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.
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.