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« He’s Worried For His Safety… | Main | Doug Casey on the Nanny State »
Wednesday
Nov042015

Gold Prices: Another Head Fake Fools Investors

 

Golds latest rally has turned into another head fake and so
another test of the $1080/oz level looms. The RSI has hit '30' suggesting it is oversold, so a small bounce maybe on the cards. 

 

We know that it very hard trying to remain patient in these times especially as the bottom gets called with such monotonous regularity

 

Keep one eye on the Euro as it appears to be in free fall having dropped from 115 to 108 in just 4 weeks on the Philadelphia index, which puts upward pressure on the US Dollar, whether it deserves it or not. So in dollar terms gold will have great difficulty in making any progress.

 

A new low is its way and maybe a final bottoming out will take place, then and only then will we be presented with mouth watering bargain buys.

 

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