Intraday Market Thoughts

Reflexive vs Impulsive Gold Rallies

by Ashraf Laidi
Mar 21, 2013 18:22

Gold rallies resulting primarily from Eurozone woes are more short-lived than gold rallies resulting from announcements of fresh QE.  The current gold bounce is a result of Eurozone investors seeking haven into the metal (as was seen in the Greece & Italy episodes in these charts ), but it does NOT imply a prolonged gold rally vs USD. We added a new Premium trading note on USDCAD affirming our 3 existing positions, 1 new trade on EURAUD as well as new commentary in highlighting the flow in the euro.  The long part of the DUAL GBPUSD trade remains in progress awaiting the stated limit (which was almost hit earlier), while 1 of 2 USDJPY was stopped out. See all trading and charts details in our latest Premium Insights.


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