All that “Glitters”

Bit of an educational piece for you this week, all detail is on the chart:

gold

 

Obviously someone does not take the QE will save the world at face value!

How much lower can it go?  It could go all the way down to $0.01 if it forced to, but I suspect that we’ll find that out in the years to follow, one things for sure QE ain’t worked so the argument for QE funding Gold is out of the window – as usual we’ll no doubt see the “Gold is fund stocks” statements out now as the markets go higher.

The facts are unless there is some way of monitoring every buyer and seller and ask them for the reason of the buy/sell we will never ever know.

The overall Trend is a rather large trading range (until proved wrong) and the short-term trend is down – now watch as price explodes to the upside!!!

I’m happy to sit and watch this one for the time being until it calms down a little and becomes tradeable for me – it still owes me a few pounds that I want back!

 

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