Gold Price News and Forecast: XAU/USD in neutral mode within tentative descending channel [Video]
|Gold: the bulls do not look to be on especially solid ground [Video]
There has been a consolidation over recent sessions with US traders focusing more on their turkey and/or buying faux discounted items for Black Friday. However, this consolidation has moved into the final month of the year with a breach of a four week downtrend. A swing higher on Friday formed a bull candle and questions who is in control of the market now. However, essentially, this trend breach does not really change the narrative for gold, which continues to be medium term corrective. Read more...
Gold in neutral mode within tentative descending channel [Video]
Gold has been light in terms of volatility over the past two weeks, sliding sideways within a tentative downward sloping channel that remains intact since early September. The momentum indicators continue to suggest a neutral-to-bearish bias for the short-term as both the RSI and the MACD have yet to show a clear direction in the bearish area, with the former ranging below its 50 neutral mark and the latter holding flat around its red signal line. Read more...
Someone Is Betting On $4,000 Gold
Gold got an opportunity to trade without the price manipulators breathing down Gold's rise... And so the shiny metal, even with little volume, found a way to end the week up about $10 from where I last talked to you last Tuesday... I would have like to have seen Gold's move be greater in numbers without the price manipulators, but I'll take $10 and be a happy camper! But guess who's back at their desks today? And from the looks of it, they are already catching up, as Gold is down $6.40 in the early trading this morning...
Speaking of Gold... Jared Dillian of the 10th Man newsletter recently ran a survey, and among the questions he asked, was this one: What do you think the best medium term investment is with a time horizon of 4 years? Of individual stocks, mutual funds/ index funds, real estate, bonds, savings/cd's, and Gold, guess which one was the leader? That's right Gold! Gold beat individual stocks! Now that was a survey of 10,000 responses... I guess he asked the right people, because, from my view in the cheap seats, I would think the average joe six pack would say individual stocks, and not Gold... Read more...
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