Gold: Summer Doldrums Tactics
news.goldseek.com / By Stewart Thomson / 9 May 2017
1. Gold has arrived at the $1220 support zone. Please click here now. Double-click to enlarge.
- Note the position of the Stochastics oscillator at the bottom of the chart.Significant rallies tend to begin from the current position.
- Since Indian dealer stocking for the Akha Teej festival peaked a few weeks ago, gold has been declining (as I suggested it likely would).
- Top analysts at Goldman Sachs had a target of $1220 and that’s roughly where the price has fallen to.
- Please click here now. Double-click to enlarge. The downtrend from the April highs has been relentless for silver. To deal with this type of market, investors need to regularly stock up on put options.
- Another strategy is to carry some short positions (like the banks do).When there is no rally in a market, there is no possibility to book any profit on anything other than bets that the market will fall.
- I hold a lot of dividend paying investments in the precious metal sector as well as some short positions. The bottom line is that I believe in a coming bull era, but if I’m going to wait for it to happen, I want to get paid handsomely for the time I spend in the waiting room!
The post Gold: Summer Doldrums Tactics appeared first on Silver For The People.
Source: http://silveristhenew.com/2017/05/09/gold-summer-doldrums-tactics/
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