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Where Might we Buy Gold Prices?

Where Might we Buy Gold Prices?

2013-10-24 15:00:00
David Rodriguez, Head of Product
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ssi_GOLD_body_Picture_19.png, Where Might we Buy Gold Prices?

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GoldRetail FX traders remain long Gold versus the US Dollar, and a contrarian view of crowd sentiment leaves us modestly in favor of XAUUSD weakness.

Trade Implications – Gold: Our trading bias on Gold prices is admittedly mixed here; while crowds are long, they have mostly scaled back recent buying. Our Senior Market Strategist recently wrote that a Gold price break above $1321 would signal further gains are likely, and indeed it seems as though a test of near-term resistance at $1350 is imminent.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

ssi_GOLD_body_Picture_20.png, Where Might we Buy Gold Prices?

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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