Hoffi1337 posted:
To be honest, I have no idea. Any opinion on this is pure speculation, the market will decide. It is much more important to have a system which is strong against any moves with a reasonable risk management. Sorry for this poor response :(
That response is not poor at all.
It is a definitive response based on logic and a knowledge of what the gold market is prone to doing. Personally I like a response that offers sound logic while acknowledging the sentiment of the author. In this case a person with the logic of movement and risk is the kind of trader that resonates well with my trading style which is a little conservative.
Your response if concise, honest and to the point. There is nothing "poor" about that response at all.
The age old adage is true for gold and I trade by it more often then not, but this is just a sentiment that I tend to trade by.
"If there is blood in the streets, buy Gold!"
In summary, if there is much turmoil in the land of the currency you trade gold by, USA as an example XAUUSD, then buy gold, if the USA economy is improving and there is general peace or happiness amongst the population of that country, then stay out of the market or add to your long positions depending on the cost. But again, this is just me and my preferred manner of trading gold.
It's amazing what you can accomplish if you don't care who gets the credit.