Intraday Market Thoughts
Archived IMT (2009.09.18)
by
Sep 18, 2009 18:11
GOLD and SILVER are set to make their first 2-day losing streaks since mid August. So far this year, gold has never started a new uptrend after a losing week that followed 2 straight winning weeks. Thus, a lower close this week is unlikely to renew the current upswing past the 1,020s this time. We still expect a retreat towards 960 before a more successful attempt past 1030 high and eventually towards 1,200 as early as end of Q4. The 4-day selloff in equities was instrumental in propping gold's latest run-up, but the next sell-off in equities may not be as gold-positive, especially if it is caused by broadening talk of tighter monetary policy in US and EU.
Latest IMTs
-
Of Gold Extensions مقياس إمتدادات الذهب
by Ashraf Laidi | Apr 15, 2024 16:38
-
Bitcoin performance & Miners Prehalving
by Ashraf Laidi | Apr 9, 2024 17:07
-
English Translation to Arabic Interview
by Ashraf Laidi | Apr 7, 2024 21:01
-
فشل الفدرالي في إقناع الأسواق
by Ashraf Laidi | Apr 6, 2024 14:17
-
Typical Errors on Gold, Silver, USD
by Ashraf Laidi | Apr 1, 2024 16:14