This week saw consolidation and breakout into an ascending channel with solid demand signalled on Nov 6 and Nov 12. Still headwinds and resistance. This is Gold priced in US Dollars. Since DX is churning sideways and basket currencies finding their footing, gold caught a bid. 2015 may very well see DX climb through supply (resistance) This would put more pressure on gold. Commodities appear to be in a down cycle in general. I do not look at gold in the same category as ie. HG or CL. Dis-inflation seems to be pervasive world wide. Bad news for the yellow metal. Short term long bias. Long term short bias. I have no position in either the futures contract, etf's or miners. I would love to hear your courteous and constructive comments. Thanks,
kilo
kilo
