DislikedCan some please tell me what will happen to Gold it the Euro Zone: A, does nothing or B, gets bailed out. Or any other options. I'm a little confuse at the moment about how it will affect gold. At the moment it seems Good news drives prices in the other direction then follow with a fall, and bad news pushes the markets down at first then followed by a push up (which is completely opposite of what should happen, but I understand the "why" on that part. My mind is shot at the moment. Thanks!!Ignored
whole world is standing in front of global recession so most of the investors/traders wants maximum liquidity.
If you read content of link which jsr just posted you will also able to correlate things. most of the big investor took their money off from gold
earlier gold perfectly played role of safe heaven but now situation is different.
so any good news from euro zone pushes it up, but so far whole scenario is not resolved it gives opportunities to short term sellers to short gold which results in fall.
now 1520-30 is weekly demand and strong support where most buyers have placed their buy stops.
but this support is weakens every time it is visiting back you can see this clear picture in daily chart. price staying longer in this area.
now longer it stays below 1600 stronger chances 1520-30 won't hold this time if that happens we will see 1475-80 atleast..
so pray everything calms down in europe so that we can also earn some handsome amount in next bull run to 1900