@ 7:23am Adelaide time. Quite a bit of a rise over night thanks to Iraq It was only a matter of time. Looks like gold could be back to $1500au by the end of the year.
If we break resistance than 1500 is undercooking it, in other words, higher target. BTW Iraq has nothing to do with it. It's like saying it was the gum stuck to my shoe that did it. No causal relationship at all, just wishful thinking.
$1406au @ 7:45am This is going to get interesting. I predict the next big gold spike will be the US sending troops again.
From my understanding of the situation a lot of it was due to the latest comments from Janet Yellen of the Fed. Traders saw her comments as not being so hawkish to reduce QE quickly and the prospect of low interest rates and money printing for a long time to come yet.
With the use of the conditional, any scenario is possible, literally. Wishful thinking dies not increase chances of likeliness though. So really, it's just as possible as it going back to $1300.
all about job creation in the US when it comes to gold at the moment. We need some shitty months ahead to get people loving the yellow stuff again.
$1324 US/ $1408 AU 8:08pm Adelaide time US troops will be deployed soon into Iraq again and Iran is getting very edgy. US bogas economic figures are becoming more and more a reality. Europe economic figures getting worse again. And gold is about to rally big time!!!!!!!!!!!!!
Sorry for my spelling in my previous post, its the excitement. Gold hit $1413au in the early hours of this morning. The bull is ready to charge. LET THE GATE OPEN!!!!!!!!!!!!!!!!!!!!
Be careful of the Pamploma effect.. The bulls charge but at the end of the day they are hamburger patties.
I need to be convinced gold is moving upwards for the right reasons and I just don't see that at the moment. At the beginning of the year when US corporate earnings season was poor we saw a dip in the US dollar which caused gold is rally but it was short lived. After earnings season was over gold dipped back down again. Half-yearly corporate earnings are just kicking off again and we're seeing the same thing occurring I think. If gold can at least maintain the rally after mid September and show strong support through key resistance levels then I'll be a little more convinced. Until then I'm on the sidelines. Watching the AUD/USD forex trade would also be key to this suspicion. If the Aussie dollar rallies over the next few weeks despite poor macro data coming out of Australia then we'll know why as forex traders chase higher yields with the Aussie dollar.
