Thursday, 21 February 2013

"Death Cross" For Gold

Gold has lost over $200 (12%) of its value since October 2012 and it's about to show a "Death Cross" formation on the Chart, where the 50-day moving average crosses over the 200-day moving average. Consequently, this has got the technical traders to watch their long positions more carefully, and some traders have already activated their Stop Losses. The billionaire Fund Manager/Owner, George Soros, happens to be one of such traders.

Some investors appear to be dumping Gold and are moving into riskier assets such as Stocks and Shares as the worries about Global Economies and Inflation seem to be settling down a bit for the time being.

1 comment:

FX Trader said...

Gold is a speculative bubble - it has very little intrinsic value and no yield. With no underlying value to protect the price it can fall just as much as it once rose.


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