historically trading Gold in the Fall has been good because it usually is on the move and lately Gold is at a 7 month high. It would not surprise me if we see Gold break and stay at $1800 tomorrow or in the next few days. Gold is a strong buy right now..
Gold is good to be traded in anytime. Worse time is before non-farm payrolls, too aggresive. I personally believe gold will plunge to 1,450 before correcting higher. My bet is that central banks will liquidate some of their gold reserves between 2013-2014, which will devaluate its price
Gold is good to be traded in anytime. Worse time is before non-farm payrolls, too aggresive. I personally believe gold will plunge to 1,450 before correcting higher. My bet is that central banks will liquidate some of their gold reserves between 2013-2014, which will devaluate its price
Ignored
I personally love day trading gold. I day trade it everyday. It currently represents 90% of my daily trades. Very predictable and extremely volatile. You can check my journal if you want.
I don't think the central banks will be liquidating anytime soon. Fundamentally, it doesn't make any sense. Unless, they are looking to make a quick profit on speculation. But, you are absolutely correct. Short term drop can be cause by speculation or profit taking as well. In order for gold to drop, the USD has to increase in value. This can occur because of fundamentals (improvement in economy) or because of manipulation (the illusion of an improvement in the economy).
