Do Not Be Fooled By Gold Price To Buy $ 1,000 an ounce Here's why

Do Not Be Fooled By Gold Price To Buy $ 1,000 an ounce Here’s why


Negative pressure is still bearish technically and economically on the price of gold list and there is no room to buy more, but I would recommend it short with all upside correction,

Negative factors and basic economic:

At the forefront of significant progress Greek crisis and the way to resolve the financial stability on the horizon, with universally optimistic Iran’s nuclear file to the agreement, make gold loses more demand as a refuge.

– Strength of the US dollar and the re-launch request a rate hike in September following a drop in unemployment claims in the United States to 255 thousand in the week ending 18 July 2015 at 281 000 levels of data. The lowest level since 1973. Unemployment Claims in the United States average 361.05 thousand from 1967 to 2015 was, to reach its highest level ever of 695 thousand in October 1982, and a record low of 162 thousand in month November 1968. Jeep US Labor Department data.

-chin And the largest consumer of gold globally and lower new PMI HSBC indicates where new weakness is the lowest since April 2014 in the activity of the manufacturing sector which increases the negative impacts on the economy China as a whole pressures and the approach of a possible intervention of the Chinese government to support the decline in the manufacturing economy.

– In the last drop of energy prices worldwide put pressure on inflation, with deflation in favor of gold losses for the medium term, and watch the US oil down the levels of $ 50 deal with Iran cores ready to lift the sanctions on Iranian oil increases the surgeon global oil prices, which increases the risk of global recession which we have seen a decline in its old continent with the decline in European consumer prices to levels 0% for the month of June after the index recovered three months before that.

It became in favor of the US dollar and investor appetite for gold in steady decline and the pressures selling gold into increased stability of the bottom levels of $ 1090 an ounce today.

Negative technical factors

– Although the price reached to 50% downside correction to a rally lasted for 12 years in a row – as banks enter the world of cheap money and plans for quantitative easing, which benefited gold since 2009, where he stopped liquidity injections by the US Federal Reserve Fall 2014

– Triangle bearish technical pattern broke down the bottom of 2014 to $ 1131 and achieve the lowest price in five years at a price of $ 1072, defended the further decline and losses short and medium term and the goal of the model is located at the price of $ 960 by the attached photo.

What will you do with the gold merchant Dear movements:

I would recommend it to sell with each bounce to the upside as long as price down to $ 1130 levels where daily close above $ 1140 may be a positive factor for the return of the price to go up slightly at $ 1150/1170

Goals always sell at $ 1050 levels of $ 960.

Investment buying in gold for 2015 with a low inflation is not a likable and has a big risk with a look good for the purchase price of about $ 1,000 an ounce, and to levels of $ 960 a relatively long term.

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