Special Report: Gold price on 7 October 2011

Assalamualaikom and Hello,

After reading an analysis written by  Irit Rutenberg from FXEmpire.com, I decided to make a review on current Gold price:

Gold

AUD/USD

Technically speaking, Yes I agree the fact that Gold is one step away from going bullish. However, based on my continuous studies on the precious metal, I'm gonna wait for AUD/USD to go bullish first, then only I will dump all my money into Gold. 

On second thought, Gold might continue to bear due to cautious activity by traders based on situations in EU and US. ECB is yet to deliver good turning point  on debts recovery, while Obama's plan on Jobs Plan looks convincing, has made Greenback gained some confidence. So, next week will be week to make clear and sound decision on investment.

As mentioned by Irit, generally she's looking at the market towards upside.

At this point of time, Gold price lingers around USD 1650/oz, AUD is at USD 0.9700.

Happy trading pippers!

EUR/USD 3-7 October 2011

Assalamualaikom and Hello,

Lets look at the charts...

Chart A

Chart B

Another bearish week for Greenback!

Looks like my prediction is gonna get real, EUR is moving towards USD1.30 and below.

At this time of writing, Gold is @ USD 1600.00, Silver is @ USD 29.00 (previously reached USD 40.00, suprisingly!). The way I look at market, I am predicting Gold is hitting as low as USD 1450.00, while Silver is go down to USD 18.30.

As a speculator myself, I am expecting year 2012 will be the year of "harvesting" dividends from the bullishness of the precious metal. Gonna keep my monies for now!

Happy trading pippers!!