Gold's Demand Returns
The gold has shown a clear sign of a bullish reversal for the first time in nearly 2 months.
The gold broke above a near 2-month falling trendline which started forming since the gold peaked at a new historical high of 2075.
However, we are not expecting huge and fast buying of the gold and we do expect the price to range upwards through October.
In general, the gold market has provided a pretty satisfactory discount and buyers will inevitably start to pile up.
Wait for the price to pull back and observe the price action to find a good entry point and as of now, 1916 looks like a good price to buy.
The gold broke above a near 2-month falling trendline which started forming since the gold peaked at a new historical high of 2075.
However, we are not expecting huge and fast buying of the gold and we do expect the price to range upwards through October.
In general, the gold market has provided a pretty satisfactory discount and buyers will inevitably start to pile up.
Wait for the price to pull back and observe the price action to find a good entry point and as of now, 1916 looks like a good price to buy.
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