We saw a Bullish trend in Gold and gold was respecting bullish trend Channel from some days, so thats the buying opportunity for us,

if we get quotations at the lows of that channel then that will be a great buying opportunity. we will wait to see the gold in bearish trend.

now we are on a demand zone that demand zone high is 1815 and that zone low is 1811, so we have to wait to break that demand zone

if that is broken with high volume then we will start watching gold in a bearish mood, we will wait for the pull back with the concerned volume

and from 1811, No demand will be the sign to sell the Gold. As we know to buy from lows of the trend or from the pullbacks so in that scenario we will wait gold to break 1805 level to start a longer term bearish trend.

However, we need to get some type of resolution in the bond markets as to which way inflation is going. After all, most pundits believe that inflation is going to be extraordinarily high, and we are starting to hear people talk about 70s style inflation well. However, it is obvious that bond traders still believe in this, and therefore they are buying bonds and accepting lower rates. This is one of the situations where we will sooner or later break in one direction or the other, and then the trade will become obvious. I am still skeptical of gold on the whole.

Ijaz Ahmed

Ijaz Ahmed

Jul 16 2021

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