I expect gold to begin moving up very soon. The latest I see gold beginning its ascent is 3PM Eastern Time tomorrow. This is not the weekend to be shorting gold in my opinion.
Anytime after 11PM tomorrow (Eastern Time/New York) the new Modi-led Indian government will release their first budget. Any alteration to India's strict gold import rules could spark gold. Even just a hint that those rules could be relaxed later in the year could push gold past two important retracement levels ($1,331~ and $1,351~). http://www.channelnewsasia.com/news/business/international/india-stocks-hit-new-high/1243000.html
How long will Putin stay silent on Ukraine? First of all he is in Latin America this week. Second history has shown us that Putin understands timing as well as anyone and waiting till Saturday morning (late Friday in New York) could give him an entire weekend before the world catches up. http://www.marketwatch.com/story/ukraine-advances-putin-stays-silent-2014-07-08
China & Germany. Russia & Latin America. The global economy is moving forward and both the US and EU are playing smaller and smaller roles. The biggest problem for the US and EU is their anti-gold push is becoming weaker and weaker. http://english.peopledaily.com.cn/n/2014/0708/c90883-8752113.html
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.