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The current bull market in gold is far from over. In fact it is only beginning.
As we see the end of another year, and even though the price of gold has come off its highs of over $1225, the price gold gained some 30% this year. Now, as the dollar rebounds from it's lows, and as most equity analyst are looking for global equities to continue upwards, there is talk that gold has made it's high. While we are all entitled to our opinions, I believe that these analysts fail to see the bigger picture and that the price of gold has a long way to go before this bull market peaks.
From the 1980's high of $850, gold was in a bear market for some 21 years. During those years, the International Monetary Fund (IMF) as well as most central banks around the world tried to sell as much gold as possible. Some of the sales were done with "impeccable" timing such as the sales made by the United Kingdom that sold a large portion of their gold during 1999 and 2002 when the price of gold was around $275. And, as these bankers disposed of their gold holdings, the bullion banks in London and New York kept going short gold by using the futures markets.
The reason for me mentioning this is because I believe there are still many people who are of the mindset of this era and fail to see that since 2001 gold has been in a very strong bull market and still is. And this bull market is far from over. Yet, even to this day, the major bullion banks in New York maintain unusually large short positions of gold. One simple trading rule is to always follow the trend. If they can't see this upward trend, then perhaps they are looking at their charts upside down!
Region Emerging As A Forex Trading Hub: Dubai Gold And Commodities ...
Bailiwick Emerging As A Forex Trading Hub: Dubai Gold And Commodities Transfer
17/11/09
Currency futures trading offers an another asset genre for portfolio diversification in the Halfway East Worldwide FX sell has grown to reach an estimated regularly volume of US$2.5 trillionOn-unpleasantness currency trading in the Stomach East set inexperienced records in 2009, with the province emerging as an high-level trading hub, said Kevin Day, of Dubai Gold & Commodities Swop (DGCX). Kevin Day, Aim of Relationship Executives at DGCX, was addressing bankers, currency traders and forex sell participants at the 5th Mid-section East Forex Expo in Dubai today.
Speaking on the far-reaching currency marketplace, Day said, “The FX superstore has grown significantly in brand-new years to reach an estimated always total business of US$2.5 trillion, backed by greater order and the increasing rage of deploying praisefully refined algorithmic trading tools.”
The flourishing of the bailiwick’s currency markets is underlined by an 88% evolution in DGCX currency futures transactions, comprising Euro/Dollar, Excellent/Dollar, Japanese Yen/Dollar and Indian Rupee/Dollar futures, Day added.
Elaborating on the growing r of currencies in the pale, he said, “Currency trading is emerging as an asset stock in its own just in the Halfway point East. This, coupled with today’s proviso to make it counterparty depend on gamble offers a never-ending cultivation opening for DGCX, its members and the Midway East FX trading community as a whole.”
Speaking on the advantages of trading currency futures, Day said the Dubai Commodity Clearing Corporation (DCCC), the clearing business of DGCX, provides a encampment make sure support and has adept zero defaults since inception. In resemblance, transactions in the neighbourhood retail are transacted bilaterally, often incurring higher credence neglect imperil. Furthermore, while buy makers and liquidity providers propose most successfully amount development on DGCX, participants in the blemish trade in often take prices from only one creator, which could trim down profitability.
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The current bull market in gold is far from over. In fact it is only beginning.
He brings over 29 years affair in futures, equities, forex and bullion. And, although he began trading silver through the LME in 1980, when it comes to and more »
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