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Last week's removal of SNB's floor for EUR/CHF created high volatility in gold (GC).
In two days the ECB will announce or not a QE programme for the eurozone.
Will this create high volatility in gold again ?
A more general question: what creates high volatility in gold ?
Can you help answer these questions from other members on NexusFi?
I think "ESF" is your answer. Just google "Exchange stabilization fund gold manipulation".
My personal opinion is that you should understand how the USA sytem works then you can trade gold.
I put the brakes on grain trading for the last few months, I typically just trade the grains in the summer months. I don't usually hold positions over night so i really just like to be in the market during its most volatile periods.
I just started last year but put on hold until April (planting starts). However I kept positions overnight. Keep an eye however on Brazil soybeans and Argentina corn for now. It's a lot of bearish pressure. As per my several years experience just watching the grain market it was always a problem with weather or something else that created a good trend. All you should do just jump on it than go back and force (because of volatility). It was stunning 140% return last year for the novice trader, however my account was only $5K and I traded only one contract. I was scared not to over leverage it. Will check my luck this year. Sorry for off top.
As per gold I haven't traded it yet. My big concern that countries which are in troubles now will through gold in a market. Also we should remember that USA system is alive while the $ is alive. It means that ESF will create tons of paper gold futures to put them in a market to keep investors off the gold. John Paulson, the guy who made $15B on housing crash, lost 30% last year betting on gold. I probably too scared to trade gold.
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