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Gold Call Signal 03 Dec 2015

Signal details
Entry Price: 
1059.00
Close Price: 
1063.21
Expiry Time: 
21:00 GMT
Result: 
ITM
How we trade
5/5 of 2 ratings

The price of gold has been hitting new lows almost every week, and this one is not an exception. The gold price moved sharply higher today after hitting its lowest level since October 2009. The levels have provided for traders very substantial interest as the currency market has priced in a FED rate hike.

At the same time, the EUR/USD is rallying massively further weighing on the appeal of the U.S. dollar today. We would be buying at 1059 with the clear idea to continue buying in the coming days as the markets readjust their positioning towards the U.S. dollar.

Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. He has no business nor personal relationships with any mentioned government entities or stocks. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion.