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Thursday, 23 March 2017

Gold: 23 March 2017, Thursday, 9.45pm Singapore Time

23 March 2017, Thursday, 9.45pm Singapore Time
(Click on Technical Chart above to expand the Chart)

Gold will proceed to break up $1375 for $1550-$1600 as first target. As it took time to chalk up the re-accumulation of Gold within and outside the wedge formed by the yellow band and blue band support and resistance, invisible hands in the market will want to rally Gold to all time (historic) new highs from here. Hence from $1550 onwards, gold will want to rally to beyond $1900 and $2000 respectively as 2nd target.

Expected Target:
1. $1550-$1600
2. Challenge historic all time high of $1921 again
3. Break up $2000 for new historic all time new high
The above are all guaranteed targets when $1375 breaks up and made the new support.
Gold will break up $1375 and go on to make historic all time new highs again.

Additional Note:
Reiterate: Investors owning stocks and equities must have some gold or gold ETF or gold index in their holdings to stablise their portfolio. Because when stocks rally, Gold can rally, it can also correct healthily, but when stocks fall, gold will rally. The effect is that if gold corrects within the portfolio, it will force one not to overbuy stocks. If gold spikes up in stocks' sell-off, it will extinguish your fear as your portfolio is protected and balanced off by gains in gold. If both equities and gold rally, which is what I expect, you stand to gain from both concurrently. You have the best of all worlds.


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