From yesterday I’ve been seeing a little anomaly in the movement market. The bullish is very dominating especially for asian season, although at noon the european session tend to be bearish and back bullish for closing US session.
After a few fact finding the bloomberg did give a news that catch my intention. Here is some lines that I found really-really intriguing which you guys as readers would easily grasp what does I mean.
Asian stocks dropped to a three-week low, Japanese shares entered a bear market and the yen traded near a 15-year high against the dollar, as concern the world recovery is faltering spurred demand for safe assets.
The asian stock condition is not good enough right now which make people prefer to move their asset into gold, which is one of safe assets since history known to men.
Both asian and US is still in economy turmoil in my opinion, while the europe is still have to solve their own problem. The world still in uncertainty. And the gold price itself currently still undefined whether to step up more than $1,200/toz. or going back to below $1,200/toz.
But if it’s can’t break $1,190/toz., I dont’ see any possibility the price movement will drop below $1,200/toz.
So will it bullish or bearish? You decide for yourself.