In the Kitco News Gold Survey, out of 34 participants, 17 responded this week. This was less than normal, with many still away from their desks for an extended New Year’s holiday. Ten see prices up, while six see prices down and one is neutral. Market participants include bullion dealers, investment banks, futures traders and technical-chart analysts.
The debt of the United States will never be paid unless the nation's GDP grows beyond the level of debt accumulated. But with the amount of borrowing and Fed printing, the dollar is doomed to go, and with it, the domestic production and importation from abroad. Store shelves will go empty. The dollar will be worthless. Prices will skyrocket and those who...
GOLD fell 29% loss in 2013. Investors lost faith on yellow metal rally. But it quickly found support in the beginning of the new year. Now 1220 level became a current support on last Friday. GOLD is likely trying to reach 1265-1270 range if it breaks above 1245-1250 zone this week.The daily indicators point out that the price still has some room for upside move....
All eyes will be on the FOMC meeting on Dec. 17-18. Gold is showing an interesting pattern. Buying interest could increase at this level and move the price towards 1290-1300.
Original idea Published back in August. Target 1 was swiftly hit and taken out now we are going for target 2
We are +200 per contract right now original chart
I see two things:
1) Gold and Bitcoin have been negatively correlated lately.
Could a bounce on support in gold (@1200+/-) be signalling a pullback in Bitcoin?
2) When gold took out major support, both gold and Bitcoin sold off (even though the last one wasn't much on bitcon)
If gold breaks support at 1200 (with follow through), will bitcoin fall with it?...
