19 February 2010

Gold : Who's Afraid of the IMF?

  • Large white candles on Gold crosses, a day after IMF announces plans to sell 191 metric tonnes of gold on the open market.
  • Ranked in order of qualitative bullishness on the accompanying charts - 1. XAU/EUR  2. XAU/GBP  3. XAU/JPY  4. XAU/USD. [indirectly EUR, GBP, JPY, USD in order of weakness]
  • Have to be bullish gold in whatever form on basis of ability to dismiss apparent bearish news.

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