Gold markets rebounded after falling at the beginning of a session on Thursday, and remained within the area of standardization that we are used from last summer. Does not seem to really market any will or desire to get out of this region, so we suggest that this is more of a chance to go to the final of a series of rebounds to $ 1620 level. Because of this, we stand ready to buy gold in the penetration heights Thursday’s session, and we think it is clear markets gain about 50 dollars for ounce.
Looking forward, we believe that the field of standardization between $ 1640 and $ 1540 will continue throughout the summer, with the exception of some types of falls in Europe. With the words of this we believe that this is an excellent trading market in the short term and should continue until the first or second week of September.
It is natural that the flow of news is always going to be with the required liquidity, but at this point in time do not really see any reason for this market to rise or decline any move continuously. The range is the way to go, to do with buying down where we are now, selling at around $ 1620.
The profit of the U.S. dollar in general, but it seems difficult to hack on the dollar toward the top of the content areas currently on the U.S. Dollar Index, with the result that would be difficult for gold to rise based on strengthening the U.S. dollar. Other way around, it’s easy to say that this trade is over, now we need to see a new round of panic or a catalyst to form a new “threat” to the environment.
As the summer is the time means is this year, and we believe we will not see a serious move until the return of major companies from the summer break. Rookie traders are not simply those who move the market generally, and as such will wait for more experienced teams to return, and the payment of this market in one direction or another.