US Attack On Syria Could Effect Gold Spot Price

Analysts and traders alike are today considering the impact on prices and trading across the board amidst America’s imminent strike on Syria. Of course oil prices have already increased and expected to increase further, but analysts are waiting for the impact to be seen on gold spot price.  Analysts are predicting a bullish trend in response to the expected military strike and world political unrest and the challenges on the back of this, while it seems that the U.S. may stand alone in the decision to take military action.

Even more prevalent is that some analysts are also predicting another currency crash.  The printing of currency has been worldwide and extreme and will be slowing down, analysts are seeing this as a journey into the unknown. When you consider the concern over Quantitative Easing might be coming to an end, the Syrian war and oil prices sky rocketing, there is little wonder that analysts cannot see a positive outcome from these challenges.

Commodities on the other hand are expected to be the safe haven for investors in response to these fears.  We are already seeing panic buying of oil.

Gold spot charts bearish

Gold spot charts this week have seen bearish trends, however this is now making a ragged climb. The majority of analysts are expecting a gold price recovery, but then the question is when? Some investors will be racing to buy on today’s dip in pricing before the looming fears come into play, however some investors are waiting for a greater bearish trend down.  There is no guarantee if or when this will happen to any greater dip in the prices than we have seen this morning, and therefore some traders have already taken today’s low or even before now to buy, buy, buy.

Friday´s dip is thought have been due to better than expected U.S. economic data and more pressure to slow stimulus. In addition, the U.S. Labor Day weekend holiday is upon us and some traders will not even be at work on Friday.

Over 80% of traders are buying and taking advantage of spot prices while they are approaching $1400 per ounce and not waiting to see if they will go above. Looks like many traders are expecting a recovery after this morning’s negative trend.

Now is probably not a time to sell, however if there is a spike caused by any urgency indicator or change of the looming concerns then depending on the buying price paid, perhaps a quick sell will see gains for some.

If you own physical gold and are able to watch the situation unfold, you could be looking at very green and happy gains in the coming days, weeks and months. If you do not own physical gold perhaps now is a reasonable time to invest, but keeping watching the gold charts and listening for breaking news.

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