Essentially, gold proceeds to be discovered as a wealth store during the economic turmoil. As numerous investors lose their faith in the paper assets, gold usually will surge in cost as people seem to hold real assets. Presently, we are viewing mixed signals about whether the debt crisis in Europe is getting worse, or it is improving. Based on this information, we will take care or watch carefully on the economic calendar for more details on our basic outlook.
As you see we made our Gold Forecast 2012 and we see bullish trend in next year. But what trade now ?
My first choice is to place the entry orders in expectation of a breakout usually on gold. The entry orders must be placed close to $1830 to buy as well as $1640 to sell. Alternate scenarios let in price trading inside the triangle pattern before a break.