Gold is pegging towards bullish pastures with the festivities of Onam earlier this week and Diwali, the festival of lights, ahead. Gold hit $1269.50 on Monday morning (Sydney time). The upward movement in Gold should get a additional boost with wedding season in full swing shortly in India. The traditional investment for safety in Gold has been highly relative to the Euro value since late 2013 recently and with Mario Draghi dragging the Euro into lower territory on purpose we can expect Gold to make solid ground.
We are in for a big long position on gold and add purchases at anytime Gold trades below $1267