Gold cross record level of $796 on high crude oil prices, Dollar weakness and Increasing demand. Gold is near to resistance level of $800 and looking very bullish. There are types of thinking for it
First: Positive
Gold is Much Bullish and if it cross $800 then it will become highly bullish and it will go for further high of $850. Demand wil increase from india as Festival Diwali is Comming.
Second: Negative
Gold is at very high level and it will not go futher high as condition will some ease and it will go down.
Conclution: Gold is really at very high level and it will very vollatile for some days .It is looking Bulish for some days but it movements will depends up on its affecting feature. So Take care of related news and use Stop loss levels to stop any big losses.
First: Positive
Gold is Much Bullish and if it cross $800 then it will become highly bullish and it will go for further high of $850. Demand wil increase from india as Festival Diwali is Comming.
Second: Negative
Gold is at very high level and it will not go futher high as condition will some ease and it will go down.
Conclution: Gold is really at very high level and it will very vollatile for some days .It is looking Bulish for some days but it movements will depends up on its affecting feature. So Take care of related news and use Stop loss levels to stop any big losses.