an_forex

going to sell this lol

Short
FX:XAUUSD   Gold Spot / U.S. Dollar
This metal going to the dumps in my opinion, it may rally after this big sell off but ill be looking to short it again
Comment: As long as yields keep rising it should keep bearish for gold, it would be nice to see 1400-1500 again

Comments

I agree ypur opinion ! Thanks for such clear charts!
+1 Reply
an_forex Karzon
@Karzon, thankyou mate!
Reply
I also agree, i have been following gold for a couple of years now. I see this going short basically when the market opens. I think it will go short to the 1500 levels. Gold must drop for investors to buy at a lower price.
Don't be the 70% of traders that lose. You have to think of gold as a supply and demand. No one wants to buy gold because the price is to high. Therefore it must come down. Once it comes down to 1500 levels, gold buyers will then invest their funds into gold for profits.
Reply
an_forex kezybaby
@kezybaby, I agree with you, I just think because of rising bonds and yields gold will continue bearish, price tried many times to break 2000 but couldn't so this is such a huge sign institutions do not want this level right now. Trade safe mate
Reply
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