I thought I would start a weekly gold forecast thread but may if I find the time + energy make the occasional daily gold price forecast. Typically it will be posted on the w/e for close the next Friday and don't bet yer shirt 'cos you may lose it. No rules so be as rude as you feel necessary. Got a good gold joke ? So let it out here.
Gold and oil are the 2 main commodities affected by politics. So Mr. Ras Putin's actions in the Crimea and Odumbo's over response will directly affect the Crimean crisis and therefore the price of gold. Hopefully they will pull up short of WW3 but you never can tell. :eek:
Ukraine's government showed its hand after hours. They are sacrificing Eastern Ukraine to separatists, and the US is powerless to do anything. Gold is down 5 pts as I type.
Copper down = China fears Gold down = Ukraine's president agreed to let its eastern region vote for autonomy; meaning that they are giving into Russian demands and there will be no conflict between Ukraine and Russia. Also, china's demand for gold was reported to fall for the year. Silver down because it follows gold
%%%%%%%%%%%%%%%%%%%%%%%%%%%% Good points,B bear; except GLD, gold trends still look most Uptrending/bull market I dont want to disclose all my time frames; but 10/+ year candlecharts, 50 days/data,GLD, gold up again, i have seen better uptrends+ much better downtrends than gold%%%%%%%%%%%%%%%%%%%%%%%%%%%%% China keepS putting bears [panda bears]on its 1 OZ solid silver coins; as HI priced as many US dealers sell those china silver dollars, no wonder,LOL JFK half silver dollars are sold out; $00.50 face value. The 1964 JFK half dollars got hot+ stiil are.I remember Mark Weinstein [HI %% trader] noted the market sold off sharply when JFK got killed; then rallied sharply UP...............................................................................
Off to a good start which is encouraging, being +2.18. Below is the weekly chart for gold which may be more accurate.