@AMXWZ1 You’re very emotional. What did you lose via Soar? A £20 challenge account? Get a grip. If you actually went out and worked hard instead of sitting on twitter all day moaning about 11 sweaty grown men playing football… maybe you wouldn’t need a prop firm.
Gold sitting on its weekly 50EMA.
Last time we broke was Oct 23. Sentiment remains bearish. Price will likely see more downside.
But expecting a rebound prior to lower prices.
@TCilgin78@KobeissiLetter That’s total nonsense. They banned exporting any gold in 2014. All gold from the west is going east. It was US biggest export recently.
@DuLibertarier@jsblokland Yep. No catalyst which suggests more upside. Other than central banks aggressively buying it. Other than it overtaking treasury reserves. Other than government debt to GDP ratios being the highest in history. CB’s weren’t that interested in gold before 2014. Now they are.
@robin_j_brooks It’s because this isn’t a traditional war between two countries. It’s a conflict which has caused an oil crisis which results in everything getting sold to raise liquidity. Such as treasuries and precious metals.
Central banks around the world bought 17t of gold in April. This map shows the significant buyers and sellers, but Senior Research Lead, Marissa Salim has more detail in her latest blog on Goldhub.
@realkenchigbo Gold is up 3% in 2 days on the prospect of a deal.. how could a ceasefire/deal be bearish gold? EM CB’s stop selling to defend their currencies. Rates come down. Oil goes down.
@realkenchigbo@sapien_trader So you’re not considering a deal in the next few weeks between US/Iran? Should we assume high oil prices forever and ever?