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LA, California, USA
Experience: Intermediate
Platform: NinjaTrader
Trading: CL,ES mainly
Posts: 520 since Sep 2011
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Gold edged down on Wednesday on profit taking after sustaining 3 days of gains which saw gold creep slowly above the $1,600/oz level again.
Recent dollar strength and a lack of clarity in the minds of many market participants regarding whether the ECB or the US Federal Reserve Bank will employ more quantitative easing to prevent double dip recessions and even depressions may be partly to blame for gold’s lack of gains.
A debt crisis will never be solved by creating more debt. Gold remaining not far from record highs in most fiat currencies shows this and the consolidation of recent months has set the stage for a marked increase in prices in the coming months.
Silver Market Sees 'Anomalies' and 'Devious Efforts' - CFTC's Chilton
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