Thursday, 21 November 2013

Today Ben Bernanke reminded us that Gold is still subjected to a plunge!

Dear Friends,

Recently you may have think that gold has stabilized and bottomed. Today after the announcement of the Fed minutes, Gold price drop $13. The Fed minutes stated "suggested the central bank is looking for ways to exit or at least slow down the controversial program in fairly short order."

Minutes from the Oct. 29-30 meeting showed that officials considered reducing the size of the asset-purchase program even “before an unambiguous further improvement in the [labor-market] outlook was apparent.”

From the technical perspective I think once next quarter comes, pressure will be on to decrease the QE and gold might plunge below the $1200 strong support! I am quietly waiting for that to happen. A breakdown off $1200 might set the gold price to head for $1100. A panic as severe as the April crash is not likely to happen, but a fast decline is still expected.

Having said that, I still think that $1200 is a strong support for this year. Gold might likely head for this figure and bounce off.

Next year when QE tapering expectations is high is the point to short the Gold futures or ETF!



Rgds
Daniel
www.danielloh.com

958访谈 2018年7月26日:欧美贸易战美国胜利驶到股市大涨!买什么?

·         欧美贸易战美国胜利驶到股市大涨! 道琼斯昨晚闭市在 25414 点,涨了 172 点。 一个月前我们曾经在节目中有说过,道指在 24100 点的时候大家一定要投资,是捡便宜的机会。果然,道指从当时候从 24100 点已经跑了 1300 点。 ...