Gold Market Wire
News, analysis and commentary for gold traders and investors
Gold Market Update
Gold Clears First Hurdle
October 11, 2023 - (Gold Market Wire) - Gold has moved over our first technical challenge as is setting up to move higher.
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Given the geopolitical situation the world finds itself, the only logical market position remains, as it ever has been for us - long US Dollar and long Gold. This time around we got luck on our side (with the help of our horizontal marker) and bought the low. Doesn't happen often - but it's nice when it does. Then we increased the size.
Clearing small resistance at $1878 should be fairly easy and then on to the challenge at $1910. Long and strong for the trading book. It's the only way to be positioned. Core increases should be seriously considered. The world is entering utter turmoil.