Gold – 29.05.2017

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Gold has gone up around 10% since December 2016. So shall we expect a further increase in the Gold price?

 

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To be honest Gold’s current price may hurt a lot of traders as it looks so unpredictable at this stage. When we think logically, stock markets are trading on all time high levels and a correction is clearly not too far away. In the cases Gold has always been the safe harbour for the investors.

 

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However financial markets do not always work based on the logic. We should be considering the current facts (current prices, affairs, expectations etc) before taking any position.

 

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Currently Gold is trading around $1,267.40. We believe the drop is almost imminent. it should be a gradual one with the target prices of; $1,250.00 – $1,220.00 and $1,208.00

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This cannot be considered an investment advice!!