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Gold daily chart, spotted a good bullish AB=CD harmonics pattern emerge. The key support will be 1180, the low made on 23 July this year.
Heard the news today..gold mining companies are struggling due to low price. Below 1200 is not good them.
Why is it not good for gold Mining Companies? is it not good for everyone? Thank you.
The gold companies are making money from selling the gold but not enough to cover the costs (i.e. expenses, salaries, wages, bills). Have you seen the stock price of every gold company? Their chart looks not good. It can be a good price to buy but scary.
XAUUSD - BIG VISION
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Press review
newdigital, 2013.12.21 18:05
Technical analysis for GOLD :
Gold Sheds Nearly 3% on Fed Taper- Bearish Tone Set for 2014 Open
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Gold was off sharply on the week with the precious metal plummeting more than 2.8% to trade at $1203 ahead of the New York close on Friday. Despite the magnitude of the weekly loss, bullion is set to close well off the lows of the week at 1187. Regardless, the metal is now set to post its first yearly decline in thirteen years and its largest yearly decline in 32 years. As the Fed begins to throttle down from its ultra-accommodative monetary policy stance, the outlook remains heavy heading into 2014.
Gold daily chart, spotted a good bullish AB=CD harmonics pattern emerge. The key support will be 1180, the low made on 23 July this year.
XAUUSD - BIG VISION
Forum on trading, automated trading systems and testing trading strategies
Press review
newdigital, 2013.12.26 19:49
Based on Bear Market Cycle Bottom Forming in Gold and Gold Stocks Right Now article