Gold and silver prices are getting hammered as the investor's attitudes towards risky assets have returned. Today Gold hits a five-week low while silver prices felt more rapidly as expected.
The China stock market reached it's nine-month high today. Asian and European equity market are also heading higher along with the U.S. stock indexes. The U.S. jobs report from the Labor Department which is The most important U.S. economic data of the month is scheduled to release on Friday, Today the eurozone PPI also came out which didn't surprise anyone as Those numbers were in line with market expectations. Analysts are also focusing on upcoming European Central Bank’s r monetary policy meeting which will be held on Thursday as the ECB is expected to take action in order to make the Eurozone economy stronger.
Trade war: Signs of progress in US-China talks Based on The Wall Street Journal research the U.S. and China are close to finalizing a trade agreement.The story said China would lower its tariffs on U.S. imported goods, with the U.S. doing the same on most or all of the trade sanctions it levied against China last year. The report said U.S. President Trump and Chinese President Xi Jinping will meet in Florida later this month.
The Technical damage in gold and silver chart has already been done as the metal has corrected more than $50 from last month’s highs, many analysts are looking at long-term support at $1,275, which represents a key retracement level in gold’s recent rally. minor corrections should be expected from these levels which could take the price up to $1300 however we'll add more capital to this trade once yellow metal will break below $1270 level as a close below from this level will open the door to more selling.
Summary-It’s a “do-or-die” week for the gold and silver market bulls. They need to step up and show good power this week, to avoid more serious technical damage being inflicted.minor corrections should be expected from these levels which could take the price up to $1300 however we'll add more capital to this trade once yellow metal will break below $1270 level as a close below from this level will open the door to more selling.
If all these derivative bubble pops there wont be any sellers in gold the future contracts are settled in usd and the physical market will detach you would see instantly a price jump to 5000$ even if the futures rise you guys are the fuel for it
We personally believe that this trap is one of the most dangerous which simply blinds you. Confirmation trap is when investors seek out information that validates their opinions and ignores any theories that refute it. you fall in this trap as you were only reading those articles or videos who were predicting crazy upward prices or somehow confirming your bias. Before investing in any asset we advise you take only those pieces of advice from the experts in which there is no conflict of interests involved. Think of it like this way if someone has a youtube channel about gold where he always tries to tell you that in the upcoming years the yellow metal will climb to this or that level and also tries to show you the reasoning behind his prediction. Is it a good decision to follow the same person for the purpose of investing or trading in gold? No, we don't think so because trust me there could be unlimited reasoning behind any analysis in simple terms if an analyst wants to convince you for the purpose of buying or selling any asset he can provide unlimited reasoning behind the analysis. Make sure you get objective advice from fresh sources.
UnknownUnicorn942585
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@GoldSilverAnalyst, I have a much different believe system then you and im happy about it im religious gold is money in all holy books the banksters care about so much that they manipulate it for their favour im invested in physical only they can do on comex aka crimex what they want sooner or later the price will just detach. It's not a conspiracy that the central banks belong to a few banksters that are independent from the goverment i rather hold something with intrinsic value that can not be inflated by those crooks
The whole system is nothing but an illusion.. religion is my foundation i know exactly what those banksters are going to do the biggest wealth destruction is on the way the wealthtransfer happened longtime ago by dumbing down society
GoldSilverAnalyst
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@RAKIM, As insurance we always suggest our clients have exposure to the physical gold and silver in there portfolio however the analysis we post on a daily basis is from a trading perspective. owning precious metals is an excellent way as insurance however when to sell is also an important thing which investor should be aware of-