I published this chart when gold was around the 1180 $ mark, now i come purely from a technical background, which means i don't refer to news headlines, Trump, Iran, war etc.
Now that gold has started going up we have many expert comments like "a combination of economic uncertainty" "trade worries and rising interest rates sparked fear in investors who hurried to buy safe haven assets.
The truth is, every time gold rises, (in this case) some kind of a safe haven buying is usually going on. Therefore, it is very easy and convenient to explain a surge in gold prices after the fact.
Strangely enough we don't hear these comments at the start of a ride.
So the big question here is - are you a fundamental trader or a technical trader.....it would be interesting to know your thoughts...so appreciate i get more comments than the likes :)
Now that gold has started going up we have many expert comments like "a combination of economic uncertainty" "trade worries and rising interest rates sparked fear in investors who hurried to buy safe haven assets.
The truth is, every time gold rises, (in this case) some kind of a safe haven buying is usually going on. Therefore, it is very easy and convenient to explain a surge in gold prices after the fact.
Strangely enough we don't hear these comments at the start of a ride.
So the big question here is - are you a fundamental trader or a technical trader.....it would be interesting to know your thoughts...so appreciate i get more comments than the likes :)