The banking situation in Cyprus opens up another whole can of worms that makes things dangerous. What looks like a very bullish situation for gold is not a guaranteed one. It will all depend on how much panic comes out of the banking issue in Europe.
In summary the downtrend is still intact in gold but the conditions are best described as neutral on the medium term and the short term. This banking situation should be bullish for gold but things have played the opposite of what everything should be in the markets. The situation we’re in is of global consequence and implications are far and wide. The danger is a bank run in Europe and what the markets decide to do with it. It should be bullish for gold but it wasn’t in 2008. It’s too early to make a prediction as this just developed over the weekend. Now we have to see how the crowd reacts. It could be a wild week to say the least.
Last but not least of all weeks the FED FOMC meeting is this week with a full INTERVIEW on Wednesday afternoon. The control boyz usually clear the deck on such occasions so its best to be very careful if trading on leverage.
In summary the downtrend is still intact in gold but the conditions are best described as neutral on the medium term and the short term. This banking situation should be bullish for gold but things have played the opposite of what everything should be in the markets. The situation we’re in is of global consequence and implications are far and wide. The danger is a bank run in Europe and what the markets decide to do with it. It should be bullish for gold but it wasn’t in 2008. It’s too early to make a prediction as this just developed over the weekend. Now we have to see how the crowd reacts. It could be a wild week to say the least.
Last but not least of all weeks the FED FOMC meeting is this week with a full INTERVIEW on Wednesday afternoon. The control boyz usually clear the deck on such occasions so its best to be very careful if trading on leverage.
GOLD CURRENT TRADE
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Our Position
Bought 1Apr Gold on 20/03/2013
Entry: 1605
Sell Stop : 1590
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SILVER CURRENT TRADE
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Our Positions
Bought 1May Silver on 21/03/2013
Entry: 29.15
Sell Stop : 28.30
Bought 1May Silver on 22/03/2013
Entry: 28.60
Sell Stop: 28.30
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YOU SHOULD NOT TAKE ANY MATERIAL posted on this BLOG AS RECOMMENDATIONS
TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED.
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.
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
