Gold Rallies as Fed Reiterates Unlimited USD Supply

Direct from the desk of Dane Williams,
This is not your average forex broker blog.

XAU/USD Daily:

Gold continues to trade in a rational nature, bouncing off daily support and setting off for the top of the most recent range.

It seems like some of the forced selling to satisfy margin requirements elsewhere may have finished and Gold's safe-haven status is returning.

With the Fed literally saying "There's an infinite amount of cash at the Federal Reserve", how could it not see some demand from buyers?

Price now sits at the daily support/resistance zone in the middle of the most recent range, but with the level being chopped up from both sides recently, it doesn't seem to hold much significance.

Watch how price trades around it on the intraday and if it does in fact go straight through it, We'll be looking to buy any retests of short term resistance as support.

Best of probabilities to you,


@forexbrokr | Hive Blog

Market Analyst and Forex Broker.

Twitter: @forexbrokr


Peter Schiff is dancing on the table top and mike maloney is swinging from the chandelier!!

Absolute twats...

Unlimited FED dollars ad QE spell trouble. We are kicking the can down the road.

That's our kids' problem, not ours!