Hello Reader!
Good afternoon. Since I have a background of working with a reputed Commodity broker in Lahore Pakistan, I would like to update you about my experience of the Commodity market. Therefore, I would try my best to cover several topics in this category like Gold, Silver, Crude Oil, Copper etc...
Coming back to the topic "Gold Prices May Reach $1400 in Next Month", since you are aware of the fact that FED has announced a hike in Interest Rate yesterday i.e. March 15, 2017, it is now being expected that people will start putting their money in to the U.S. Banks.
But so far, we have seen that the market didn't react like it should particularly after this rate hike. This is mainly because the Gold is in a Bullish trend for the last few weeks and main investors do not like to see its prices coming down. Though a weak Bearish trend can be seen in coming week but still a long term Buy could be beneficial for a trader who has good equity in his / her account.
Conclusively, I suggest a Buy entry on every dip of $10 in Gold prices in the Forex / Commodity market. The first entry should be taken near or above $1220. I feel this current Bullish move of the Gold prices may take it to $1290 in the next week.
Happy trading guys!
Good afternoon. Since I have a background of working with a reputed Commodity broker in Lahore Pakistan, I would like to update you about my experience of the Commodity market. Therefore, I would try my best to cover several topics in this category like Gold, Silver, Crude Oil, Copper etc...
Coming back to the topic "Gold Prices May Reach $1400 in Next Month", since you are aware of the fact that FED has announced a hike in Interest Rate yesterday i.e. March 15, 2017, it is now being expected that people will start putting their money in to the U.S. Banks.
But so far, we have seen that the market didn't react like it should particularly after this rate hike. This is mainly because the Gold is in a Bullish trend for the last few weeks and main investors do not like to see its prices coming down. Though a weak Bearish trend can be seen in coming week but still a long term Buy could be beneficial for a trader who has good equity in his / her account.
Conclusively, I suggest a Buy entry on every dip of $10 in Gold prices in the Forex / Commodity market. The first entry should be taken near or above $1220. I feel this current Bullish move of the Gold prices may take it to $1290 in the next week.
Happy trading guys!
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