The overall trend is still bullish in gold and silver. This will not change. There will be buyers on significant crash. There can be some tweaks in US economic policymaking after former US president Donald Trump’s failed assassination attempt.
US presidential elections this year has turned bloody after muddy. Trump wants to stop the war in Ukraine. American politicians and high-ranking state American officials love war and make trillions from war. They are all opposing Trump. Trump is also opposed to pharma companies bullying the masses. Political class in USA is funded by War and Pharma. They will still do everything to prevent Trump from becoming the president of USA. Masses and retail traders worldwide understand this. Gold, silver, and other safe havens will rise till the conclusion of the US presidential elections. In between sharp sell-off (if any) will be part and parcel of the bullish trend.
Trump’s failed assassination attempt will have a multiplier political impact in every nation on earth. Hiter-ization of USA began after this. Biden is running a government in communist style. Democracy is dead in USA. Democracy is just on paper in the USA. Greater allocation to gold is a compulsive need of the hour or sit on cash—your choice.
Position squaring and rebuilding will be there once again for investment period ending middle of November. There will be phases of sky high volatility. No stop loss no trade. No stop no short term investment. Low stop loss may bet triggered. Not comfortable today, then wait for tomorrow and thereafter. There is always a tomorrow for commodity traders.
SPOT GOLD – (Current market price $2409.80)
- Todays View: Spot gold needs to trade over $2392.00 to rise to $2432.00 and $2467.70.
- Crash or sell-off will be there if there is a sustained fall below $2392.00 today.
Disclaimer
- The investment ideas provided is purely independent view point and are solely for collective learning and for academic interests. There is no commercial benefit accruing or have deemed to accrue to me out of providing such investment ideas.
- The investment ideas shared here cannot be construed as investment advice or so. If any reader is acting on these advices, they are requested to apply their prudence and consult their financial advisor before acting on any of the recommendations made here. I am not responsible to anybody in the event of profits and losses (if any) upon acting on such advice.
- I hope that our reader is aware about this well aware of the risk involved in trading in commodity derivative trading.
Disclosure: I trade in India's MCX commodity exchange. I have open positions in India's MCX commodity future. I do not trade in CME future or OTC spot gold and spot silver.
NOTES TO THE ABOVE REPORT
- ALL VIEWS ARE INTRADAY UNLESS OTHERWISE SPECIFIED
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- PLEASE USE APPROPRIATE STOP LOSSES ON INTRA DAY TRADES TO LIMIT LOSSES.
- THE TIME GIVEN IN THE REPORT IS THE TIME OF COMPLETION OF REPORT
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- TECHNICAL ANALYSIS IS DONE FROM TRADINGVIEW SOFTWARE
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