Thread: Gold Buying
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Old 14.01.2018, 20:14
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Re: Gold Buying

Actually gold in USD is also very close to a breakout level. The price now is $1337. The first resistance level is only $8 away at $1345. That peak was built in the middle of 2017. That $1345 level could be tough to break, but if it does, then the next resistance level is $1366. This is from more than 2 years ago, which means it is now only weak resistance.

If we break $1366, then itís plain sailing to over $1í600, by which time everyone will be increasing their weighting.

Whatís driving the rise?

- We have all major economies recovering and demand increasing. Demand for resources is rising, as are prices. This will feed through to PPI and later CPI. Gold tends to rise at the first whiff of inflation.
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