To spit it out, the Chinese water torture for both bulls and bears continous for now and Gold drifts lower before it just
rebounds once again. THE low may have not been seen yet!
One valid reason apart from the more 'politically correct' reason of 'more sellers than buyers', (like Pisces said about CDE), is the proximity of the OPEX for the PM ETFs and for the February Gold futures contract.
As I have said many times the put/call ratios look bad, very bad in fact.
I assume a trading range of $1,095 - $1,035 +/-5 for now and I will trade this range accordingly.
The torture continues and not 'continous', sorry about my misspelling in the headline...
To spit it out, the Chinese water torture for both bulls and bears continous for now and Gold drifts lower before it just
rebounds once again. THE low may have not been seen yet!
One valid reason apart from the more 'politically correct' reason of 'more sellers than buyers', (like Pisces said about CDE), is the proximity of the OPEX for the PM ETFs and for the February Gold futures contract.
As I have said many times the put/call ratios look bad, very bad in fact.
I assume a trading range of $1,095 - $1,035 +/-5 for now and I will trade this range accordingly.
tria -"Falling grades and production levels, a lack of new discoveries, and extended project development timelines are bullish for the medium and long-term gold price outlook." - Kevin Dushnisky, President, Barrick Gold, Jan 18, 2016.
Gold's buying power for things that one can not live without is at an ATH !
Go Gold...go !
As soon as the ISIS crowd/clowns sell their last ounce of the stollen Gold, it will be let free to fly to the moon. This is the fundamental background/game/set up, the rest is noise for the mkt mechanics/tecnicians to sharpen their analytical skills.
In the world of 0 and 1: "austerity" is the right thing to SAY; "spent more, print more" is the right thing to DO.
"You miss 100% of the shots you don't take."
~ Wayne Gretzky