UK Gold Trading Experts
  • Home
  • Trade Like a Pro
  • Gold Blog
  • Subscriber Resources
  • Legal Stuff
    • User Agreement
  • Contact Us

Gold Price - Record Highs Likely (but watch out for a great short opportunity)

24/7/2012

4 Comments

 
Picture
How's that for a fence-sitting, bet-hedging headline!

Whilst we firmly believe that the longer term position remains bullish, we can also see that right now the market is positioning itself for a potential break to the downside which will reap rewards for those taking short positions.

Many fund managers and analysts agree with our view of the long-term - read the two articles below to see why:

Gold 22% Rally to Record Seen by Eric Sprott: Commodities - Bloomberg

news.google.com

Gold 22% Rally to Record Seen by Eric Sprott: CommoditiesBloombergGold will climb to a record by yearend as the global economy slows from the weight of too much debt, says Eric Sprott, the founder and chairman of Canadian fund manager Sprott Inc.and ...

Gold to Hit $2000 by Year-End on More Fed Easing: Merrill - CNBC.com

news.google.com

Gold to Hit $2000 by Year-End on More Fed Easing: MerrillCNBC.comMerrill Lynch has added its voice to the chorus of gold bulls who have been predicting that bullion will hit $2000 an ounce. ...

With the continued delay to QE3 and the strengthening dollar, the gold price continues to struggle to break out of the intermediate down trend it's been in since September 2011.  Our daily market update videos from the 12th and 13th July show this in perfect detail, with the set up for our next trade shaping up...
If Gold breaks below the 1525 level that has been tested a number of times since September 2011, we will be taking a short position with a view to the market retracing all the way back down to around 1300 before it heads north again to achieve the record highs around the 2000 level.
If Gold bounces off the really strong support levels around 1525-1530, we'll be looking to go long with our stop positioned beneath 1525.  Whilst the market is in this period of indecision, we firmly believe the best strategy is to be patient and to sit on the sidelines.  For some trading is about the buzz of being in the trade, but for us it's about making money - we do that by being disciplined and picking our trades carefully.  There is a clear strategy in both directions at the moment, so there's no need to rush into anything.
Although this post was originally uploaded over a week ago, it still holds true - we are still waiting for the market to make its mind up one way or the other.

We've been getting quite a lot of emails from our subscribers asking what our next move is going to be and when we are likely to re-enter the market. As our trading history shows, we avoid "over-trading" and entering the market for the sake of it. Right now the gold market is going through a period where it is struggling to find a direction and is trading a very tight $30 range - but it could break out at any time.

This is exactly the time to sit tight and hold on to your money - trying to scalp during this period is just gambling in our opinion and we don't advise it. We make our money by picking winning trades which we ride out as far as possible, and cutting our losses on trades which go against us.

As soon as there is some action worth trading, we'll be on it and will let you all know...meanwhile, enjoy the sunshine (it is shining here in the UK anyway), relax and keep your eye out for our next update!
4 Comments
steven tan
25/7/2012 08:37:28 am

very view good point.

Reply
steven tan
3/8/2012 07:24:49 am

what is next week gold trend?

Reply
steven tan
3/8/2012 07:25:59 am

what is next week trend?

Reply
Intraday Trading Tips link
3/10/2014 11:58:35 pm

Nice trend shared about gold be future perfect thanks for sharing.

Reply



Leave a Reply.

    Old Posts

    August 2021
    July 2021
    June 2021
    May 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    March 2019
    January 2019
    December 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    March 2018
    February 2018
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    July 2016
    March 2016
    December 2015
    November 2015
    October 2015
    September 2015
    August 2015
    July 2015
    June 2015
    May 2015
    April 2015
    March 2015
    February 2015
    January 2015
    December 2014
    November 2014
    October 2014
    September 2014
    August 2014
    July 2014
    June 2014
    May 2014
    April 2014
    March 2014
    February 2014
    January 2014
    December 2013
    November 2013
    October 2013
    September 2013
    August 2013
    July 2013
    June 2013
    May 2013
    April 2013
    March 2013
    February 2013
    January 2013
    December 2012
    November 2012
    October 2012
    September 2012
    August 2012
    July 2012
    June 2012
    May 2012
    April 2012
    March 2012
    February 2012
    January 2012
    December 2011
    November 2011
    October 2011

UK Gold Trading Experts (UKGTE) is a trading name of Drupac Limited, a company registered in England and Wales (company number 09167819) whose registered office is 1 St. Paul's Square, Birmingham, B3 1QU.