Here is a look at the current risk level for gold and a look at the “Get me out at any price” panic.
Current Risk Level For Gold
June 5 (King World News) – The following is from Jason Goepfert at SentimenTrader: “Sentiment on gold rebounded in the last couple of weeks after nearing a pessimistic extreme. The risk level declined to 2 in early May, which led to rallies over the next two months 84% of the time during the past five years according to the Backtest Engine…
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Goepfert continues: One big worry remains the resurgent dollar, which has led to consistent losses in gold going forward. That puts a damper on the potentially positive setup that’s brewing. Recent studies have suggested that there still aren’t many compelling near-term positives for the metal.”
Current Risk Level For Gold
“Get Me Out At Any Price!”
King World News note: It is also important to note that a very large liquidation has taken place in GLD, the gold ETF (see chart below).
The Bottom Line
The price of gold has remained in a trading range for a very long time. The upside fireworks will not start until the price takes out the key psychological $1,400 level. Until then, remain patient and continue to accumulate physical gold.
ALSO RELEASED: ALERT: Bullion Banks Making Moves As War In Gold & Silver Continues CLICK HERE TO READ.
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