Fri, 04/30/2021 – 11:47
Gold has a new trading range as it bases another new bottom and gradually grinds its way higher. At some level, gold will have an explosive-type breakout to the upside, and I think that level may well be $1,800.
Gold had an impressive rally from $1,725 to $1,798.40. In my opinion, the rally was rooted in U.S. Dollar weakness. After 3 failed attempts to move the rally above $1,800, we’re now experiencing some simple back and fill action. So, the “new” trading range— for now— is $1,750 to $1,800. The next attempt to take out $1,800 should quickly take gold prices towards $1,850.
U.S. Dollar bounces cause gold pull backs. The Dollar can’t sustain any type of meaningful rally while the printing press runs full speed without interruption. Monetary policy won’t change any time soon and gold will necessarily move higher as currencies around the globe are devalued.
Platinum struggles to breakout and to hold a close above $1,250. This, too, shall pass. Palladium has just made a new all-time high and should also help support platinum. Platinum is a good long-term value in the $1,200 range. I’d expect that when gold moves above $1,800, we’ll see platinum testing $1,300.
If you are interested in discussing the potential opportunities in the metals futures, contact me directly firstname.lastname@example.org
🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.
As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.