Granted the response was a little terse.What an odd reply postman
I see someone asking if any other trader agrees with their analysis on gold, there is no mention of the DOW. Since gold is now @USD1308 I'd say the OP's anaylsis was good for anyone that traded the move.
And what do you think about recent rise in demand from global central banks on gold? They're buying record amount still gold rally seems to be stalling. Are there some hidden factors which restrain its growth?Granted the response was a little terse.
The point of my post was to say that Gold is not a volatile commodity, for the last 5 years its been in a $300 range, the only time its likely to see a significant rise is when a market correction occurs and Gold is bought as a hedge.
The reason for mentioning the Dow was the poster bax699 has only posted on 4 occasions and the most recent one was
"Its posible when gold rises that stocks fall slightly, will the next rise in gold prices make the dow fall? " https://www.trade2win.com/threads/dow-jones.234807/post-3091855
Betting on the dow falling to profit from Gold is a fools errand.
Hi Punjabi,Dunstan, can you pls clarify what you see on the COT screenshot you posted? I would love to know your analysis.
FYI, I bought GCM last Thur at 1285 and closed yesterday at 1310 for a quick profit.
Until they find a solid gold asteroid it will always have a basic upward momentum.Gold is uncharacteristically active for June, I think it could've turned a corner, I'm long Silver, Gold and $GDXJ and waiting for a legup, could test the patience but seems best set up for some time.