GOLD ON THE VERGE OF A BIG BREAKDOWN AGAIN

GOLD ON THE VERGE OF A BIG BREAKDOWN AGAIN

This is an update to our earlier article published in last one year. We have seen breakdown of Gold prices since last two years.  one may read our old report in link mentioned below.

Present Technical Price outlook

As shown in the weekly chart below, after touching a low of $1180 in June 2013, Gold was broadly in a consolidation mode. A breach of 1180 would confirm a breakdown from a descending triangle pattern, the target of which would be about $926.

Long term outlook  – Gold to consolidate

We think that, after 12 years of rally, gold is set for a consolidation. 2013 was first negative year since 2000.  Both from fundamental & price (technical analysis) point of view, we feel that Gold price remains week in coming 2 years. At present, none of the existing global troubles points to a possible outbreak of a fresh financial crisis. As long as there is no renewed concern in the global economy Gold price will eventually continue to consolidate or trade lower.

Gold outlook

 

 

 

 

 

 

One may read our old article at following link

http://www.einfomet.com/buy-gold-answer/ (Fundamental article published on 2nd June 2014)

http://www.einfomet.com/gold-on-the-verge-of-big-decline/ ( Published on 3rd Dec 2013)

 

 

 

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3 Comments to GOLD ON THE VERGE OF A BIG BREAKDOWN AGAIN

  1. Paul Gomm says:

    I certainly agree with you. My recent post may interest you as it corroborates your opinion from a different view point; that of trading activity in the futures market. Regards, Paul (New York, USA)
    Paul Gomm recently posted…The Bull Market in Gold Futures Won’t be Coming BackMy Profile

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