I can say it is true but it is an old news and USD is not getting stronger anymore (last week). It is got saturated. In other words, that piece of info is more than priced in the current price of gold. What is new is that as we get close to inauguration day, the anxiety is increasing and the worry that what would happen after that will lead to higher gold prices at least till the end of January.
How the link was related to your statement? It says Ford is cancelling its investment in Mexico regardless of Trump because it does not need a new facility because its sales in small cars is declining. Ford will move the facility to Mexico in 2018 anyway (according to CEO). Actually if you look at it, it shows someone else is eating their lunch.
I don't know why two day gold having tendencies on bullish, like as today also I have seen movement on bullish pattern, whether time as reversal now
I've gotta reverse course on my bearish call. Since there was no downward follow-through on the day that I spoke of before, this thing is going up. It also came back to test the area in which it broke out of it's consolidation, which tells a very bullish story.
This is probably going to end up in a breakout from the mid-December S/R along with a short squeeze. I'm out. Other fires to put out.
https://www.bloomberg.com/news/arti...rillion-commodity-binge-as-shortages-foreseen More signs of positive outlook in US economy.
Expect a 2% pop tomorrow as this slow up trend is getting to the nerves of those who shorted gold in the hope of it would drop below 1000 soon (short squeeze). Even if their loss is not big, their money is stuck in this wrong bet.
Gold future is up 1% as of now (12:30 AM ET 1/5/2017). Should go much higher tomorrow. Germany and China are heavily buying Gold now. GS is also an active buyer in US these days. Covering or buying? I do not know.
It makes sense for China to buy gold now than US dollar in order to depreciate their currency but I don't understand why Germans want to buy gold now ....