There's 3 groups of buyers..
1th group is the bargain hunter.. they waiting to buy Gold at $1700 level or below.
2nd group of buyers .. they're in it for the long term, up and down fluctuation doesn't really bother them that much .. this group of buyers they buy Gold on the way up and on the way down. They like to accumulate a large position in gold.
3rd group of buyers .. they are momentum player .. they buy on momentum and on a strong breakout .. this group is not interested in bottom fishing ..
GOLD BREAKOUT POINT >> $1750 oz
If gold breaks $1750.. these guys will go all in
Gold break $1750.. you see a new 52 week high this year
look at the 2012 chart.. Gold is in a solid bull run
today's temporary pullback just a little blip on the bullish gold chart
GOLD BREAKOUT = $1750
break $1750 >> Gold will set a new 52 week high
Not a chance current heading set for
before the next slid into bear territory!
A stodgy asset class has become more complex and more dangerous
Massive Asset Sale begins, sending Iran into the Abyss as Sanctions continue to take their toll and now add the Precious Metals (Gold) and tumbles ever lower!