Gold Targets Further Weakness Towards Psycho Support At 1,300.00 Zone

Buying in Equity is very high, DowJones showed rally from 21500 to 24000 in no time so Equity markets are bullish. Bitcoin have more demand than Gold. I have zero investment in Bitcoin but suggestion to Bitcoin traders, When Gold will show Long-term uptrend Close positions in Bitcoin.

Equity : Stay invested in Equities,
Commodity : Base Metals are bearish, Petrolium products are buy in dips.
Forex : Downfall in EURUSD expected until ECB Rate Hikes, USDJPY buy for target 118, Dollar Index will remain Bullish..

 

I am watching from last 1 year, When Gold shows downfall, Kim Jong Un test ballistic Missile. Gold's trend is bearish and Kim can do nothing about it because Other countries also have their interests in Gold. This matter is not limited upto US and NK. Kim and Trump can do only 1 thing, Talk and solve matter peacefully. If any Military aggression started in East Asia, It can't change Trend of Gold and Investor's interests so who will regret at last ? East Asia will regret and I don't think Russia and India will participate in this Military aggression in East Asia.

Possible ECB rate hikes can reduce tensions in East Asia.

 

Gold price today $1,248.49 - good call in September even with expectations of a flight to safety with all of the worlds woes. Where will the gold price go from here?

 

I am expecting once again Gold will fall to 1150-1100$ ,

https://www.investing.com/commodities/gold-technical

Gold current Monthly RSI (14) is 49.60 target Monthly RSI 43-39 from here.

Monthly 100SMA is 1339$ and Monthly 100 EMA is 1197$ this big gap is showing , Gold will stay in limited range until this gap get reduced so 1100-1300$ range expected for 6-9 months. If format changed, I will post updates.

Let's see, on 14th. Dec. 2017 ECB Increase rates or not, or Which country's Central Bank change interest rates this month.

 

We have not seen anywhere near the flight to safety I might have expected in light of troubles with North Korea, Donald Trumps gaffs, etc. Is gold still the first port of call for those looking for a safe haven or has that all changed?

 

Gold trading at 1298.80 $, 1280-1300$ is best range for hedging. Upside book profit above 1340$ downside target 1230$ short-term.

Crude Oil inventories data and Production Cut news boosted crude above 60$. Global markets are trading at very volatile point. Possible crash in European equity markets, If EURUSD broke 1.2100. If EURUSD triggered 1.2100 then 1.2500 we can see. If EURUSD triggered 1.2100 then 1.2500 we can see. Go short if EURUSD triggered 1.1500

Nymex Crude buy for target 65$ short-term

 

Hi Manoharb

What are your views on gold for 2018?

 

First, I wish Happy New Year to all .

About Gold, International Political decisions are keys of Trend in 2018. Gold's Technicals are showing long-term downtrend below 1100$ but Political decisions can change anything so keep eyes on UNSC and Central Banks. Election period in Asia started. Possible UN sanctions against more Asian countries in 2018 so EURUSD, GBPUSD will remain Bullish but European equity markets are showing crash. I don't think ECB will increase interest rates in 2018 as well. Dollar Index and Gold , Both will fall in American markets. UK, Canada started increasing interest rates and Russia, Brazil are cutting interest rates so before ECB , I will keep eyes on these economies.

Another side, East Asian countries Taiwan, Hongkong, China, Japan hold most Forex reserves than any other part of world so Eyes will be on South-China sea matter.

EURUSD will break 1.2500 or 1.1000 in 2018 ? This is the question. Most European Forex reserves exist in Gold. Every European country have average 60% Gold Forex reserves. Bitcoin traders expecting 50000-60000$ target.

I will recommend 2 pair trading strategies for 2018, Bitcoin and Gold, Buy Gold-Buy Bitcoin invest 3% capital in Bitcoin and 7-9% in Gold. 1 will make small loss and another will make huge profit, But I am not supporter of Bitcoin so another strategy which I will support is, Sell Dollarindex-Sell Gold in 2018.

( 2018 year is full of uncertainties , Gold can break upper circuit-lower circuit in different countries according to Political instabilities so Avoid East-Asian economies and Prefer trading in Developed Economies means US,Europe, UK,Canada and Emerging nations Brazil, Russia, India are also good for investment in 2018. )

 

Before writing answer, I will say, Correct me If I'm wrong .

Now answer, I don't think Gold can be replaced by Bitcoin. Bitcoin's identity is uncertain. You can predict Gold's movement but you can't predict Bitcoin's trend or movement because Bitcoin have no technicals. If Internet faced any threat in future because of wars, Bitcoin can be a good option ? If Bitcoin is a future then I think US don't need to hold 70% Forex reserves in Gold and Europe don't need to hold 60% Forex reserves in Gold.

My honest opinion is, Bitcoin or Cryptocurrencies are like pivot to Gold or Commodities, So Today or Tomorrow, to protect Internet or Digital world, Cryptocurrencies has to come under Rules and Regulations of Global Economic System. Possible, More countries will introduce Central Bank registered Cryptocurrencies in future.

Maybe this sound like foolish, But I want to ask 1 fundamental question, In Future, Will Nationalism end in this world ? Until Diversity exists, Nationalism will not end. Nationalism can change forms but It will not end. Cryptocurrency is a concept, If I or you want to introduce in this world then we both can do that but There are Laws, Rules, Constitution by Govt.s of Different countries, so who will buy Cryptocurrencies introduced by you and me ? and If you and I can introduce Cryptocurrency then others also have right to introduce new Cryptocurrency.

Until Internet or Digital world concept exist in world ,cryptocurrencies will become the new gold safe haven of the future It's a good propaganda. At last, Next to Economics, Wars exists, ( Sweet or Bitter, Truth is Truth ) Because Human introduced all these things in world and Human create such concepts and destroy as well , just matter of time and Gold is such traditional commodity for which emperors or Govt. killed scientists as well. ( e.g. Thousands years ago, Nero killed 1 European scientist who invented unbreakable glass )

So , I don't think Digital can replace Gold. As Humans, Today, You and Me have great connectivity because of Internet and many scientific inventions, but What if we lost this connectivity in future because of wars ?? so not at all. Cryptocurrency is a good propaganda for some years but It don't have bright future, like Gold. Cashless countries is also a good idea in present but tomorrow once again any alloy or commodity will replace paper currencies.