Forum Post: gold jinyu Oct. 9th gold price trend analysis
Posted 10 years ago on Oct. 9, 2014, 2:06 a.m. EST by goldhj
(7)
This content is user submitted and not an official statement
International gold price suffered a violent fluctuation . Price dropt to 1206 after climbed to 1219 in Europe trading time, but surged to above 1220 again after the Fed meeting minute. In today’s Asian trading time, gold keeps climbing, and currently climbed to about 1224.
Latest Fed September meeting minute favors the dove faction, committees are concerned about dollar appreciation and weak external economy. Inflation outlook is considered worse than long term target. Plus the numerous idle resources in job market, the expectation of raising interest rate would be slowed down. Gold enjoyed a surge after the meeting minute, USDX on the other hand, suffered a drop. Currently gold daily chart price might suffer a correction after a sharp raise. Long positions in intraday trading would be a good choice.
Crude oil WTI 86.58 -0.73 Brent 90.97 -0.41 GLD 1226.10 +20.10 SIL 17.47 +0.41 COP 303.10 +2.75 AA:US 16.2300 +0.1600*Hammeron at the close still ain't getting the job done-demand is way high for GLD*Waiting on that COP spike-now we got it*Alcoa has inked contracts w/Boeing and Pratt&Whitney at 1 bn EACH,They must have gotten some very large orders for aircraft engines and parts-who might those customers be?*John Barleycorn Must Die,but ZIRP continues in an unnaturally long and happy life.Perhaps ZIRP will die when the Cows come home?
10/09/14 1:15 EST Crude Oil WTI 85.71 -1.60 Brent 90.10 -1.28 GLD 1,225.10 +19.10 In order to punch Putin and the Russian Banks in the balls,oil and gold market manipulators have their work cit out for them-Winter is Coming to Russia-it will not likely be able to keep the prices around 80 long enough to hurt the Russian economy.Gold market Manipulators don't have to worry they will get busted for their criminal activities,but it is not likely they can stifle gold in the face of a tsunami of global demand for physical.Keep on stackin' gold & silver if you have the wherewithal to do so...