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Gold Catching Down with Euro
Gold's record high vs. euro was a key signal in ensuring bearishness in both the currency & the metal against the US dollar. Forex & commodity traders must watch.
we might have some news on greece about EU intervention on the target system for collateral payment and guarantee and that is gonna lead to EURUSD at 1.3894 and above and that is gonna push GOLD at 1175-80. nonetheless i dont expect good news on the US front and that is gonna keep on put downward pressure on DJIA till around the twentieth of march.
GOLD upmove will be factor of eurusd technical and momentarily arbitrage advantage toward to gold against US treasury.
ur comments are welcome on that
thks
will this push gold higher
It is struggling to make it above 1097-98 as I type.
But never underestimate the persistence of goldbugs.
are you still wating for 1107 or other entry