Buy Gold at the 1310-1277 area.
This area is a decent technical area for buying gold. I expect gold to resume its bullish trend from this area.
On 21st September it is the US rate decision. A rate hike or strong indications towards rate hike this year might have strong implications for the markets.
There are a lot of question marks about the condition of the world economy. China growth, soft landing vs hard landing and possible credit bubble. Europe are to face struggles with a possible bank crisis and EU/EMU starting to fall apart. Brexit and the implications it has on Europe and the UK. EM countries close to/already in recession.
Gold might be the ultimate safe-haven for the uncertain times to come.
The scale at the chart is altered to show the levels in play.
On 21st September it is the US rate decision. A rate hike or strong indications towards rate hike this year might have strong implications for the markets.
There are a lot of question marks about the condition of the world economy. China growth, soft landing vs hard landing and possible credit bubble. Europe are to face struggles with a possible bank crisis and EU/EMU starting to fall apart. Brexit and the implications it has on Europe and the UK. EM countries close to/already in recession.
Gold might be the ultimate safe-haven for the uncertain times to come.
The scale at the chart is altered to show the levels in play.