Gold

nefariousbaffler

Member
58 0
Hi,

I don't usualy trade gold but I have noticed it has formed a double top combined with the stronger dollar. Can I expect gold prices to behave in the same fashion as stocks and currencies?

Thank you.
 

bgold

Established member
532 5
You might or might not!! Obviously, if we knew we would take a position and sare insight with the "world".
Joking aside, I increasingly read about 2 schools of thought, nl
1. Bullish boty short term and long term, gold will continue ride to 450'ish but than retrace about 505 of its 3yr bull market down to $375, setting up for a multi-year bull taking it beyond $750,
and
2. Correction immediately ahead talking gold down sub $360, after which one should also expect a multi-year bull market.

Reasoning, short term is technical (eg overbought etc) and LT debasing of cuyurencies (esp USD) are overriding arguments of goldbugs.
Good luck
 

bgold

Established member
532 5
Depends on many factors. If intention is to do occasional punts, |i would start with a spreadbetter. Otherwise, cheap access to mini gold contracts via InteractiveBroker. For access to full size pit contracts (GC), you would probably be best of using a full service commodities/metals broker.
Good luck
 
AdBlock Detected

We get it, advertisements are annoying!

But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.

I've Disabled AdBlock