Will the Gold price go below 1000$ Following Last majors events in the cryptocurrencies ?


Investors are dumping gold in favor of Bitcoin, its look like cryptocurrencies has stolen a large market share of gold generallywhen bond rates go down, gold goes up. However, in recent weeks, the yields on bonds have decreased, and gold has simultaneously dropped by two percent – an event that is quite rare.

Analysts think the change is the result of increased investments in Bitcoin, among other cryptocurrencies.

see my last post: Will the Gold price go 1400$ Or 1100$ Following Last majors events in the world?

Gold steadied below $1,250 an ounce on Monday after its biggest weekly drop in more than six months, with moves muted ahead of an expected interest rate hike from the US Federal Reserve this week.

The Fed is widely tipped to lift rates at its two-day policy meeting ending Wednesday, but its accompanying statement will be closely watched for any surprises.

The bank is expected to increase rates another two or three times in 2018, but still-sluggish inflation and wage growth have raised question marks over that view.

Though we expect few major changes to Fed policy until new Fed Chair Powell takes office-Gold is highly sensitive to rising US interest rates, as these increase the opportunity cost of holding non-yielding bullion, while boosting the dollar, in which it is priced.

In the wider markets, world stocks rose and equity volatility neared a record low ahead of a raft of central bank rate decisions, while newly launched bitcoin futures shot above $18,000. Hedge funds and money managers sharply reduced their net long positions in COMEX gold and silver contracts in the week to December 5, US data showed on Friday. Net positions in silver fell by the largest amount on record

Gold price technical analysis view :As long as gold xau/usd stay and trade below 1374+_ the trend became bearish, but as long as the gold remain above 1291  I’m expecting to meet  1347 1333 1326 1315 areas – break down 1291 level will lead the gold go to 1247-1256, while we need to watch at 1268-1274 area.
In addition, there is the price band is imprisoned between 1170 and 1370
 Strong support: 1224-1233 price areas are meaningful numbers, my strategy will be for more downtrend to 1181$ +_


position map : 
we can see at CME Cot report that there is more room for the big move: take look on the spreading and position, I expect to see strong decline /decrease on the position before the trend will change, till then the trend is remaining negative as long gold prices remain below 1370+- price 


in my last post I choose to focus on (other reportable from the cot position )
 The interesting thing that caught my eye, and worth paying attention to, is the position map
See for yourself the behavior of positions in 2011-2013 and now
Will this also lead to a decline in the price of gold or whether it indicates a change in direction
In my opinion, this time too, it will lead to a downward trend


This review does not including any document and / or file attached to it as an advice or recommendation to buy / sell securities and / or other advice


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