Gold trading 2015 where is price going?
2015 Gold trading has taken off with buyers moving into the market as a “disaster hedge” as more and more pressure is being put on the Euro. Gold bugs might finally be getting their day as trust in the Euro has fallen and Europe lies on the edge of economic disaster. Remember the risk off trade fluctuates between the Dollar, Yen and bonds. The volatility of Gold makes it a high risk “disaster hedge” when economies or countries are on the brink of devastating economic change.
The average daily range for gold is getting more and more volatile in 2015 as Central Bankers are manipulating interest rates and adding liquidity to markets through Quantitative Easing. This means the incestuous buying of their own bonds and purchasing of equities.
Gold buyers moved in and bought through a major resistance at 1252-1256. This is of major importance because the door is open to further buying to 1300 which is the first psychological resistance and could signal the end of the bear market. Watch for gold trading to consolidate at 1290 to 1320 area. as noted in the zone market on the chart.
Buyers moving in above this level could get through the next area of resistance at 1340. Gold trading above this area will start what could be the next Bull market in this commodity. The next area of resistance is the red zone from 1340 to 1356. Previously, sellers moved in and kept the direction of the bear market here. There was a lot of market makers in the futures side selling on this move, but physical demand was not being met.
As mentioned on the Money Maker Edge™ blog if you are using a “Plan B” buying physical gold on dips for gradual accumulation will give you an edge as a hedge against what could be coming with the confluence of international banking manipulations. Don’t put you self at risk by buying so much that you can’t afford to live. Remember this is a disaster hedge, not a risk off trade.
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