The pattern in gold continues to be "up on bad economic news" and "down on good economic news" as the probability of further economic stimulus increases and decreases. This appears to be just about the only factor influencing the market at the moment.
This afternoon, gold is up on the back of weak data coming out of the US, again exacerbated by thin trading conditions. While we remain in the range 1570-1630 without any definite trend, the only strategy is to sit and wait.
This afternoon, gold is up on the back of weak data coming out of the US, again exacerbated by thin trading conditions. While we remain in the range 1570-1630 without any definite trend, the only strategy is to sit and wait.