Id be careful over the next couple of days, gold will fluctuate with the US markets with the election so it could go in any direction. If Trump gets elected US markets will probably fall short term and Gold will rise. If Hilary gets the nod it will be visa versa in my opinion. Going to be a volatile couple of days
I totally agree my friend. Once the US election is over I think attention will turn back to Europe. While everyone is trying to put obstacles in the way, the UK will be leaving the EU and I am concerned this is the start of the end of the EU block. How would you unwind the euro - very tricky times ahead.
I buy a small amount via ETF each week. I think that a serious investor should consider having at least several % points of their portfolio in gold instruments. I'm typically anywhere from 5-10% gold these days.
EURUSD is falling and Gold created long-term bearish pattern. Long-term target expected 800-900$. Gold will show huge downfall in future. Technically bearish. This month's target is 1240-1220$. so sell gold on every bullish rally.
Personally I think we have seen the best of the gold price performance in the short term - that is not to say the worldwide economy might not take another tumble but gold has already benefited substantially from a flight "to safety".
Remember that investment-fund disclaimer about how past performance is no guarantee of future results? It's worth pondering it if you think this is a good time to be buying gold. The metal posted its biggest monthly gain in four years in February
ECB rate hikes will change Gold format only. As much ECB will take more time for Rate Hikes, Gold will fall more. If target changed, I will post updates.
