Commodity Gold adjustment continues...
CMX Gold price is now $535, dropped $10 from $545 today.
Obviously gold is not ready to pick up another surge yet.
Hopefully it can build a bottom support around $535. If this support is approved, Gold will be ready to test another 25 year high.
On the other hand, if Gold cannot break through $550, it is still in the narrow trading range, and no new upside or download trend formed.
Today I check the history of Gold over the years. If you take a look at 1970-1980, the volatity is huge after decades of stable price. Get ready to see the big move of gold.
Obviously gold is not ready to pick up another surge yet.
Hopefully it can build a bottom support around $535. If this support is approved, Gold will be ready to test another 25 year high.
On the other hand, if Gold cannot break through $550, it is still in the narrow trading range, and no new upside or download trend formed.
Today I check the history of Gold over the years. If you take a look at 1970-1980, the volatity is huge after decades of stable price. Get ready to see the big move of gold.
posted by SSY | 9:27 AM
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