Chickened out of shorting at 1325...
I don't trade geopolitically motivated price action; can turn on a dime...
The bias for Gold, though, must be higher even if just purely due to fear factor...
If approaches 1350-1360, then may be a good risk-reward zone to sell as Gaza's impact is likely to be short-lived and the risk of spillover into wider conflict minimal.
Worth watching S&P as it approaches 1900 and slightly below for clues.
Also worth remembering that in a true crisis (as in GFC) correlations will approach 1 (i.e. everything will fall together, including Gold), but I don't think we're anywhere near that at this stage of the cycle.
I don't trade geopolitically motivated price action; can turn on a dime...
The bias for Gold, though, must be higher even if just purely due to fear factor...
If approaches 1350-1360, then may be a good risk-reward zone to sell as Gaza's impact is likely to be short-lived and the risk of spillover into wider conflict minimal.
Worth watching S&P as it approaches 1900 and slightly below for clues.
Also worth remembering that in a true crisis (as in GFC) correlations will approach 1 (i.e. everything will fall together, including Gold), but I don't think we're anywhere near that at this stage of the cycle.