Disclaimer: I'm not an analyst and I am wholly unqualified to give any financial or investment advice whatsoever. This is just a place for me to put my notes accessible from anywhere and for a few friends to discuss.
Hi Paul,
Any chances for correction in near future?
Best regards,
Hey xxxx,
The signals I have are all very bullish. Fundamentally a surprise rate hike in the US could affect gold in the short term, but medium to long term raising rates in the US would do more damage. Gold should consolidate between 1450 and 1480 creating a strong support level. I wouldn't be surprised if it doesn't challenge a new high before this week is out, it's trading down at 1450 and could rally from here if there's willing. I wouldn't be too worried about it breaking below 1448.
Paul
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