Thursday 15 January 2015

Gold catches a strong fear bid

With the SNB deciding they don't wish to fight against the ECB's next QE program, the capital markets were rocked. Not surprisingly, Gold caught a rather huge 'fear bid', the ETF of GLD saw a net daily gain of 2.5% @ 120.88. With a break above the Oct' high... near term trend remains especially bullish.

GLD, daily


Suffice to say.. a real day of market turmoil.. with Gold catching a classic 'run for safety/fear' bid.

Despite the Oct' high being broken over... I'm still seeking renewed weakness into the summer/early autumn.