Commodity Trade Mantra

Posts Tagged ‘Gold Target’

Is Gold Now Set-Up For A Move Higher?

The bullion banks have quietly shifted their trading book to a net long position. And, the hedge funds & small retail traders have taking the other side of this & have gone significantly net short Comex gold. It is very rare for the hedge funds to run a net short position. The last time when hedge funds were net short was in early 2000 right before the bull market in gold was launched.

Gold Market Is Reaching The Extremes

As per the average gold market estimate in a Bloomberg News survey, the price of gold will drop to $984 per ounce before Jan. That would be the lowest since 2009 & a 10% retreat from Tuesday’s close. ANZ sees gold averaging $1,020 in Dec, Citigroup cut its three-month gold target to $1,000. but Morgan Stanley says gold prices could sink to $800 in its worst-case scenario.

Why Gold Should Rise And Exceed Previous Highs

Gold is actually going to rise faster than it fell. Normally markets take the stairs up and the elevator down. I think that gold is going to take a rocket ship back up. All the gold dumped out of ETFs is sitting in vaults in Russia and China & will never see the light of day again. So when the buyers want it back, the gold is not going to be there.

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