Gold is quickly closing in on the $1,400 per ounce price level. Gold may as well break the price target of $1,500 per ounce soon in the near future and in the medium term cross the $2,000 per ounce price level. Meanwhile the Australian Dollar (AUD) hit a new 28 year record high against the US Dollar (USD). Savvy Investors, many governments and hedge funds are dumping USD making it’s fall precipitous. China drove up yuan by dumping USD. The Singapore Central Bank (SCB) also dumpled USD as a protecton against inflationary pressures. Many analyst are of the opinion that USD is oversold and up for a bounce.
Since it’s June 2010 low, EURUSD has climbed up from $1.18 to above $1.36. Everyone is expecting the USD to fall even more raising the optimism for the EURO. Watch the latest Gold Trading Video by Adam Hewison. This might be the best time for gold traders! AUD is strongly correlated with Gold. With the rising Gold prices and falling USD, a strong uptrend in the AUDUSD pair can continue giving a good opportunity to swing trade this pair. If you trade the S&P 500 Index, watch the latest SP 500 video by Adam Hewison that reveals a Reliable S&P Formation that could make you money! Want to trade like Adam?
The Ultimate Price Target For Gold!
Adam Hewison, President of INO.com and co-founder of MarketClub: A little while ago I made a video that projected some amazing levels for gold. Given the strong upward trend in gold and the price action on Tuesday the 5th of October, it is worthwhile looking at this Gold Trading Video again…This short video, will certainly give you some interesting price targets for gold that are based on sound trading principles. I hope you enjoy the video, and as always we would love to have your feedback on our blog.
I have just finished a short video on the S&P 500 that I believe is worth watching. In this S&P 500 video I detail out a particular chart formation that has proven to be very reliable in the past. If I’m right, we could see a further move and run in the S&P500 to the upside. The video is free to watch and there are no registration requirements.