Go For Gold Today? Unless..

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Unless you’re a long term investor. As we always know Gold has been the safe haven when it comes to protecting your money against inflation. With the disturbing strengthening of US dollar back, maybe it’s a good time anyone can learn some technical trading (yada yada on fundamental vs technical again). Let’s flip the charts and take a look.

Gold Today

On the daily chart, gold looks weakened pretty much. If you’re a punter and you’re expecting gold prices to go up within the next few days, it might just be a losing battle for you.

On the weekly chart, it looks just as weak, with the technical indicators like MACD and candle falling towards the MA lines below. Though the general trending for gold is still generally on the upside, we won’t really know.

Go For Gold Today Unless…

You think you know what you’re doing and you wouldn’t mind keeping gold for good in the long run. As we know whenever the dollar goes up, gold prices comes down and vice versa. There doesn’t always seem to be a perfect time to own gold in a way. Gold, being traded as a commodity, has its intrinsic value backdated since decades ago and will continue to be the same.

In short, I’m pretty skeptical of gold breaching pass the $1030 mark an ounce this year, but I might be wrong.

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