GOLD: Vulnerable, Maintains Broader Downside.

Jan 18, 2012
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GOLD: Although closing marginally lower the past week, GOLD continues to retain its downside bias. Immediate support lies at the 1,211.65 level. A cut through here will aim at the 1,200.00 level with a turn below here calling for a retake of the 1,180.00 level. Further down, support resides at the 1,150.00 level with a turn below here shifting attention to the 1,100.00 level. Conversely, a continued upside, the commodity will target the 1,300.00 level followed by the 1,350.00 level and possibly higher towards the 1,399.79 level. All in all, GOLD remains biased to the downside medium term despite its recovery attempts.

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Fxpipper

Master Trader
Oct 26, 2011
1,132
4
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Given the rumors doing the rounds regarding fed tapering and the India effect, as a result of any tapering policy, expect gold to go down..
 

SailFX647

Trader
Nov 2, 2013
9
0
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Let's reignite this Gold discussion.... There has been a slide in price but I think that now is the time to get bullish again. With emerging market troubles and general risk off I expect people will be rushing to get Gold