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TOOLS USED: ICHIMOKU, TREND, PRICE ACTION EMA CROSSOVER, LONGER TERM SUPPORT RESISTANCE
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VAIBS1991's Blog
Gold: Waiting for the Fed's trigger
Gold is treading with a downward bias since touching it's lifetime high of $1919/oz in September 2011. Global recession of 2008 and economic slowdown afterwards had taken the Gold prices to exorbitant levels. There has been a considerable improvement in economic outlook for world economy which has sent the Golds prices tumbling in last five years. This year Gold had risen on back of equity market crash in January and then brexit in June which took it to the yearly highs of $1374/oz.
Now increasi…
Now increasi…
Gold: Waiting for the Fed's Trigger.
Gold has been trending down since highs of September 2011 at $1920/oz. It's pullback from the December 2015 lows had taken XAU to $1375/oz which is also it's Fibonacci retracement of 38.2% on monthly charts.Early 2016 risk off sentiments and latter on Brexit helped price push higher.
Now there is a strong likelihood of Federal Reserve raising Fed's fund rates in December meeting which may cause a downward pressure on golds prices. A strong inverse relationship between the policy path implied in …
Now there is a strong likelihood of Federal Reserve raising Fed's fund rates in December meeting which may cause a downward pressure on golds prices. A strong inverse relationship between the policy path implied in …