GOLD mr. 1580 is not coming soon?? Looks like gold under correction now. 974 is very cheap if price goes there. Currently focused on Oct 22 Japan Snap Elections (not clear the direction yet for JPY). General expects JPY strengthening which makes UJ bear retards. Let' see!! Looks like a strong dollar now persists.
+Trump Tax Cut Plans
+UK Brexit Complications & May difficulty in bringing together making USD stronger
+Europe German Coliation & Spain Catalonia rallies political unstability investors probably retarded investing there making Euro (EUR), 57.6% weight of DXY weaker which make DXY being long biased automatically
+North Korean Political tensions making JPY weaker causing dollar stronger. Has some inverse effect making Gold weaker. (Recent NK tensions noise made a fake difference in Gold prices it seemes)
+Japan Snap Elections Oct 22 what will be the effect?
+Can't keep both stocks and USD uptrend when FED hikes this time in December. Stocks would fall but USD will keep its uptrend. Gold shorts favoured..
+Gold acts as a dual standard. Currency as well as Commodity. Higher commodity prices not good for business. So lower price would be good for business (cost of borrowing would be low)
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UJ previous Analysis..
GU
EU
GU
EU
Major Exporter Switzerland Major Importer Switzerland
China being 2nd importer 3rd India can do a impact on GOLD market with demand.. it seemes. Other way round Switzerland UK and Hongkong can do impact with Supply it seemes..
HIGHER THE DEMAND HIGHER THE PRICE
LOWER THE DEMAND LOWER THE PRICE
HIGHER THE SUPPLY LOWER THE PRICE
LOWER THE SUPPLY HIGHER THE PRICE