Sunday 4 September 2011

Where GOLD head to next week?

Vào cuối tuần weak job trigger 1 đợt tăng:

Gold Surges As Weak Jobs Data Fuels Expectations For More Quantitative Easing

Higher Gold Prices Seen For Next Week – Survey Participants

Very BULLISH: 80%!

BUT: Look for the contract to extend its rally next week, moving to a new high early. However, there aren’t a great deal of big economic reports to keep the fire lit so a late week fall back from new highs would not be that surprising ...

So it could reach highs, but not sustainable. I still think it must have a larger correction. Let see whether it could make a new high. If not, it it a medium bearish signal.

Yeah, record new high 1922 then break-down to 1870

DJ Precious Metals: Gold Falls as Dollar Overwhelms Haven Demand

P.M. Kitco Metals Roundup: Comex Gold Ends Weaker on Mild Profit Taking after Hitting New Record High Early On

There is still momentum, heading to 2000.

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