U.S.Dollar, Gold and Oil
The dollar made another new low today but gold and oil can't seem to rally. If you recall I liquidated my long position in oil last week but I am still holding a long position in gold and silver. I'm a little disappointed that gold can't seem to rally with the dollar falling so here is how I am going to manage my long metal position.
As long as gold goes up I will stay with it, but because it seems to be having trouble moving higher even though the dollar is moving lower I will use a tight trailing stop. My stop for GLD will be below last week's low.
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4 comments:
Hi Kevin and others reading this post. I wanted your opinion on putting money in gold as protection against rupee appreciation. I earn in dirhams and rupee is strenghtening. What do I look at before moving into gold some part of my dirham savings. I do have to say here that I am a regular visitor in fact a daily visitor and find your post(s) quite informative.
And thanks in advance for the comment(s).
Thanks for visitng my blog..
I'll be honest with you, I haven't been following the Rupee at all so I can't answer your question...If you do want to get involved in gold, I'd wait for a pullback before investing in this metal.
I'm sorry I couldn't give you a better answer.
Thanks for the reply. I would be interested in looking at technicals for Gold. You know of some site where i might get technical charts and some indicators like RSI Stochastics etc,
I got the charts that i wanted, on stockcharts.com. Thanks. :-)
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