Note: Gold, XAU/USD Gold follows what we predicted previously. Gold having price correction to 20-EMA now.
Overall, we are still bearish on this pair!
There are 4 trading plans for this trade: 1. Since the price pullback to 20-EMA, followed by a bearish signal, good chance to short with little risk.
2. Wait the price pullback slighlty further to support zone and another better bearish signal to short.
3. If the price continue the bearish movement, watch it break the immediate 2 support lines as indicated. And wait for pullback and bearish signal to short.
4. If the price pullback too strong to 1192 support level, we might need to see if we want to accumulate short position or a reversal pattern was formed.
You might find this interesting and the gold holdings has a high divergence to price drop. Then the other thing November was a notable month for Swiss gold trade flows and it actually recorded the highest monthly gold trade flows of the year. The Swiss refining and financial sector imported 187 tonnes of gold and exported 188.8 tonnes during November. November gold imports were the second highest of the year, and only a few tonnes short of the 194 tonnes imported in February 2016. Switzerland's November gold exports were the highest monthly exports of the year.
zerohedge.com/news/2017-01-01/gold-market-charts BullionStar has recently started a new series of posts highlighting charts relating to some of the most important gold markets, gold exchanges and gold trends around the world. The posts include charts of the Chinese Gold Market, the flow of gold from West to East via the London and Swiss gold markets, and the holdings of gold-backed Exchange Traded Funds (ETFs). This is the second post in the series. Please see the November 2016 chart post article for background about the charts chosen for this series.
Total physical gold withdrawals from the SGE in November 2016 reached a substantial 214.7 tonnes, over 40% higher than gold withdrawals from the Exchange during October. November was also the second highest monthly withdrawal total of the year, only surpassed by January's withdrawal numbers. Year-to-date to November, gold withdrawals from the SGE have reached 1,774 tonnes.
On a combined basis, CHINDIA gold demand for October 2016 totalled 225 tonnes, which incredibly, pushed the cumulative gold demand from these two major gold markets above the 20,000 tonne mark for the nine-year period 2008 - 2016.
It really seems to me there is a sure expectancy of a larger demand for the refineries as they gearing and also for UK gold holding last two months, China sales increase.
The demand increase is evident and delivery demand can not be masked by paper or minupulated. The world demand is increasing and investors demand. The chances of the price dropping of a quick pop is possibly in as usual.
Bottom line GOLD must go up! They know shit is going to strike...lalalalala as we all know, but the evidence is out on Gold delivery and flow.
zerohedge.com/news/2017-01-01/gold-market-charts
BullionStar has recently started a new series of posts highlighting charts relating to some of the most important gold markets, gold exchanges and gold trends around the world. The posts include charts of the Chinese Gold Market, the flow of gold from West to East via the London and Swiss gold markets, and the holdings of gold-backed Exchange Traded Funds (ETFs). This is the second post in the series. Please see the November 2016 chart post article for background about the charts chosen for this series.
Total physical gold withdrawals from the SGE in November 2016 reached a substantial 214.7 tonnes, over 40% higher than gold withdrawals from the Exchange during October. November was also the second highest monthly withdrawal total of the year, only surpassed by January's withdrawal numbers. Year-to-date to November, gold withdrawals from the SGE have reached 1,774 tonnes.
On a combined basis, CHINDIA gold demand for October 2016 totalled 225 tonnes, which incredibly, pushed the cumulative gold demand from these two major gold markets above the 20,000 tonne mark for the nine-year period 2008 - 2016.
It really seems to me there is a sure expectancy of a larger demand for the refineries as they gearing and also for UK gold holding last two months, China sales increase.
The demand increase is evident and delivery demand can not be masked by paper or minupulated. The world demand is increasing and investors demand. The chances of the price dropping of a quick pop is possibly in as usual.
Bottom line GOLD must go up! They know shit is going to strike...lalalalala as we all know, but the evidence is out on Gold delivery and flow.