Gold, Oil & Indices (Equity & Bond Indices)

Silver should close below 16.65 which is the 150 moving average. Gold breached 1119.54. I'm all scared lol

i believe gold will reach 1124-1125 today.

Sorry Ashraf,

I realised after I posted - I did then go to that forum

Guys,

I've just checked the economic calender and ' RBA Gov Stevens Speaks ' on Sunday 1045pm UK time. Is this when we will know if a change to the AUD interest rate will occur

@newpip - playing the RBA rate hike is a fun but tricky if you plan to trade around it. I normally notice that the days/hours before the rate decision, AUDUSD climbs up close to an extreme point, and right at the announcement, it could go in either direction, and usually downwards. Even if they raise the rates, it could still come down based on the commentaries. If rate's don't raise, expect a sharper sell-off. Even if AUDUSD goes up, it could be capped given the bigger move ahead of announcement. To play the RBA poist-announcement, the ASX has a more stable, predictable reaction. As for Gold and AUD correlations, their timings aren't always synchronized. For example, a sharp fall in Gold would drive AUD lower, but a sharp fall in AUD doesn't always drive Gold down, and a sharp raise in Gold doesn't always drive AUD higher.