Market Report: 2016 Review

The reason this matters for gold, and to a lesser extent silver, is that hedge fund managers sell precious metal futures to go long of the dollar, and it is this which has driven gold and silver lower in the final quarter of 2016. Commentators in their expectations for the gold price are now uniformly bearish. These are essentially trend-chasers dressing up their negative sentiments into a fake analysis. There are some so-called specialists in cycle theory, talking gold down to under $900. But no one knows tomorrow’s prices, and it’s worth observing that sellers of trading services make their money from selling trading services, and not so much from trading. If it were otherwise, why not just make money from trading?

dec30 gold silver

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First published here: Market Report: 2016 Review

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