we @ the end of the year... so you can expect the market to behave strangely.
i remember two weeks ago, despite the good numbers from the US. gold went down to 1213 then up to 1250+
you gotta watch out this time. it has been gaping a lot during news
Who can suggest the best way to trade gold? I have seen that trading gold is very risky and frequently too fast. Hence, while it is sweet to make quick money, it is also very sad to lose huge money. So what best method or system is there to trade this. I know of some trader who specializes on the trade. I wonder how they do this?
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Additional Username
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Joined May 2014
|104 Posts
In the absence of major economic events, the dollar traded unchanged or lower than most G10 counterparts this morning Friday. Weakened against the NOK, SEK, AUD and CAD in this order, while appreciated versus the JPY. The dollar was unchanged against the CAD, CHF, GBP and EUR.
The Gold followed a similar pattern to the Yen as a "safe-haven" asset. The precious metal rose about 1.70% after the news of the plane crash in Malaysia but lost some of its gains as the uncertainty of events weakened. The trend of commodity confirmed my opinion that some of the risk off trades that were made yesterday were likely to be reversed.
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Joined May 2014
|104 Posts
Gold fell significantly below the 1305 barrier (support became resistance) and the moving average of the period-200. The precious metal support probably challenge 1293 (S1), corresponding to the level of 50% shrinkage of 5 June - 10 July as upward trend.
