Forum Post: gold jinyu Nov. 5th precious metal gold price trend analysis
Posted 10 years ago on Nov. 5, 2014, 3:59 a.m. EST by goldhj
(7)
This content is user submitted and not an official statement
International gold price rebounded slightly, once dropt to about 1164 then raised a little. in Europe trading time gold dropt from 1170 and started correcting in U.S. trading time. U.S. September trade balance is not as good as expected which dragged USDX down. While September factory orders and durable goods orders keeps getting better and that stabilized USDX in a high level. Gold’s failure rebounding indicates that it’s still weak. Currently the situation of weak gold is not changed, MACD green bar is smooth, bearish is controlling the market, trading short during intraday trading would be better choice.
Lest we forget-a steadily worsening Slump for a few months occurred before the Series of Large Institutional Failures(IndyMac,Lehman,Bear Stearns et.al.) whereupon there was a Steep and Precipitous Collapse in Commodities and Futures markets on a Global Scale,which destroyed Trillions of Dollars in Wealth.
At 3:00 am est 11/5/14 "Somebody" dumped 1.5 billion usd worth of Gld futures onto the market.This timing corresponds with the lunch hour in Japan.Please note that HUGE numbers of contracts are due at Comex on 12/1/14.Failure to deliver on these contracts is equal to a default.It is unlikely that the violent manipulations that have become business as usual will persuade many people to decline their deliveries. Gld 1,145.10 -22.50 -1.94% Slv 15.26 -0.70% Cpr 297.45 -4.40 -1.46% Killing All Life On Earth and Going Broke at the Same Time Crude Oil WTI 76.02 -0.47 -0.61% Brent 82.06 -0.76 -0.92% Wile E.Coyote Never Runs Out of Ideas Djia 17,383.84 +17.60 +0.10% S&P 500 2,012.10 -5.71 -0.28 Whistling Past the Graveyard Ftse 100 6,512.46 +58.74 +0.91% Dax 9,277.06 +110.59 +1.21% Mrs.W and Her Children Burned Alive by Psycho Husband Trying to Save Face Nikkei 225 16,937 +75 +0.49% Noodles Dropped on Floor Can Still be Eaten,if not Preferred Hang Seng 23,695.62 -150.44 -0.63% Shanghai 2,419.25 -11.42 -0.47% Gld is currently selling for 2-3 usd below spot in Shanghai today.