Gold Closes In On $1300 | The Mesh Report

Gold Closes In On $1300

Mike Hammer April 13, 2017 Comments Off on Gold Closes In On $1300

The rally in gold continues.  Donald Trump opened his mouth again yesterday – surprise – and said bearish things about the dollar.  That’s a bit unexpected, and kinda contrary to his campaign rhetoric.  In any case the market responded in the same direction, which is not always the case.  The dollar dropped and gold rose in US dollar terms accordingly.  Then news out of Asia indicates demand is apparently not tapering off, as the news controllers would like you to believe.  Another huge surprise – what people want and what they value doesn’t change overnight.  Both of these things are supporting gold prices this morning.  Of course that might not last, as every 100 dollar increment is a key psychological testing point.  As usual, we won’t try to predict what happens day-to-day, your friendly Gold Enthusiast will simply continue his cautiously-bullish-for-now stance.  The next trade entry point would be if gold cracks above 1300 on the London price fix.

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