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Billy Jury

Gold analysis

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Again the Gold market is going up and hopefully will touch the 161.8 point. So till the point buyers can make an entry and can gain a good amount of profit indeed. To the buyers the entry point is at 1339.75 and the closing point is at 1348.95.

 

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The price of gold depends on many factors and it is difficult to predict the behavior of the market. The main advantage of gold is its limited amount in contrast to currencies. The more states will print money, the faster the gold rate will grow.

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Gold has formed a double top at $1,440 that is very obvious on the daily time-frame, I think next week there will be a move to the downside.

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I dont think that it is difficult to predict price of gold. Looking historically, each time when there was high uncertainty on the market, the price of Gold was going up. It is the same situation today. So, we can expect that in the future price of Gold will go only up

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What direction will gold take in next two weeks? Please share your opinion, I want to open position on Gold with Hotforex, it was very hot recently, drew attention of many traders.  

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