Now, this is a weekly chart of just closes in the gold market. Notice how we've been just hanging here at this $2424.10 level, I think it's very clear, the market is just sitting there trying to determine the next move. I ultimately think (and I'm sure I'll be wrong and you'll write me about it) but l ultimately think we're going up to another level here and I say that because India lowered the tax on gold. Silver, platinum, copper, cobalt I go on and on...
So they are one of the world's biggest consumers of gold. By the way, I think they're the second largest consumer and they really believe in buying it for jewelry needs and so on and so forth. So by taking their tax, I think they took the tax from 15% to 6%, and other metals, they actually removed the tax.
About the author
LINN & Associates
Over the past 35-years Ira Epstein has developed a reputation for providing clients with easy to use technology and teaching good old fashioned trading know-how. A number of our brokers have over 30-years trading experience. No matter how technology changes the methods of entering orders, there's no replacement for having "been there and done that before". It's the blend of services that brings things together.
Be it education, market information or trading platforms, we provide solutions.
Ira began in the futures markets in 1969. Over the years he worked his way up, starting from the ground up as a "floor runner" culminating with his becoming a Floor Trader. In the mid 1970s Ira decided to make a career shift within the industry to develop both retail and commercial based clientele. His customer base grew to the point whereby in 1984 he founded "Ira Epstein & Company", a trading firm specializing in retail, commercial and self-directed discount futures trading. Along the way Ira became a leader in trading technology out of necessity, due to increased small lot trade volume. He was among the first to embrace the Internet, which as you know has dramatically changed both the way information is delivered and how trading takes place today.
One of the ways Ira, along with his brokers showcase their talents is through e-mails of market information and Ira's "Futures Videos", which can be viewed on our website, through Market Center, Linn-IraChart Software and on YouTube.