The reason I am still not sold on GOLD and Metals is because of.... the dollar. In my last idea, I explained why the dollar would be seeing a small run to the upside. To about $94.
Gold is dollar-denominated so, you really need to focus on what the dollar is doing. A rising dollar is not gonna push Gold prices it will weaken them. The 1500-1600 area is the buy zone for Gold. At this level the DXY will be at 94. I am targeting 3500 for Gold some time next year. The DXY rising signals a big market correction is coming soon.
Gold is dollar-denominated so, you really need to focus on what the dollar is doing. A rising dollar is not gonna push Gold prices it will weaken them. The 1500-1600 area is the buy zone for Gold. At this level the DXY will be at 94. I am targeting 3500 for Gold some time next year. The DXY rising signals a big market correction is coming soon.
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