Gold dragging up despite economic turmoilGold, as traditional safe heaven asset during times of crisis, has steadily crept up against the backdrop of equity debacle. I think Gold will continue to move up because the stock market most likely would fall in the near future. But from the technical standpoint, although 1250 level has bottomed up with buyers pouring in to hedge against for risk, 1300-1350 stands as major resistance if Gold initiates a major uptrend.
Shorting stocks may prove to be a much more profitable enterprise, compared with the toilsome bet on Gold, which has not shown signs of a major bull market.
