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:
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
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
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!
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!