Sep 06
6.00 A.M. GMT
The ECB will lay out its crisis plan today. Sterilized bond buying, means they buy sovereign bonds with digits, and then pull money out of the economies to neutralize the purchase. (thanks Darth).
There is no way of knowing the market reaction. Gold has not made a new high this week and it makes it difficult to know whether we have a cycle inversion or not. Gold has remained in a 10 dollar trade range all week.
The only thing we have to go on is that silver has made a new closing high this week. It is not a substitute for gold and doesn’t mean gold will nor does It confirm the inversion.
The ECB decision, regardless of what it is can move the market hard in either direction. On top of that we have a jobs report on Friday morning. That report usually provides spikes in gold.
The problem with waiting is that gold can spike or gap higher on the news. But it can also gap down and there is no way to know for sure which direction it will take regardless of the news.
BE CAUTIOUS – THERE IS NOTHING TO SAY GOLD WON’T GO DOWN ON THE NEWS.
There is no way of knowing the market reaction. Gold has not made a new high this week and it makes it difficult to know whether we have a cycle inversion or not. Gold has remained in a 10 dollar trade range all week.
The only thing we have to go on is that silver has made a new closing high this week. It is not a substitute for gold and doesn’t mean gold will nor does It confirm the inversion.
The ECB decision, regardless of what it is can move the market hard in either direction. On top of that we have a jobs report on Friday morning. That report usually provides spikes in gold.
The problem with waiting is that gold can spike or gap higher on the news. But it can also gap down and there is no way to know for sure which direction it will take regardless of the news.
BE CAUTIOUS – THERE IS NOTHING TO SAY GOLD WON’T GO DOWN ON THE NEWS.
NEW ORDER
Current price is 1696.5 BUY 1 DEC MINI GOLD AT 1678.
USE STOP LOSS INTRA DAY AT 1662.
YOU SHOULD NOT TAKE ANY MATERIAL posted on this BLOG AS RECOMMENDATIONS TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED.
Do your own due diligence.
No one knows tomorrow's price or circumstance.
I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader.
I do not accept responsibility for being incorrect in my speculations on market trend.
King Regards
