jamiel886

jamiel886

Spooky week with Trump's dollar-is-too-high comment and Mother of All Bomb dropped on Syria, gold went up to a new high. However, the showdown between USA and N.Korea is probably put off the table and thus gold comes down along with better economic data. Might resume the upward move as French election is about to unfold. Might retrace to 1260 before another move...

jamiel886

RATE HIKE is 100%. Investors dumping gold until 15th-17th. Then gold might go back to 1200-1220 then I think that's the beginning of a new bearish cycle.

jamiel886

This is only my observation and should not be used as guide while trading. As clear as JY can be, rate hike is imminent. The previous one had a sell off starting the day when Trump was elected. Was it the residual effect of a series of sell off preceding the previous rate hike? Only the time will tell on this coming one. I would say, they gonna mirror each other,...

jamiel886

Gonna hit 1241-1243 and then break down further on March 1st. Possibly consolidate for 2 weeks and down more thanks to Fed's rate hike announcement...

jamiel886

the correlation between spot gold, comex gold and gold etf on TSX