BetOnMarkets Daily Market Report (15th April)

Read the Daily Market Report from Dave Evans, Professional Trader


	Gold plunges into bear market Morning Report: 08.30 London • This morning gold has continued to sell off, as speculation mounts that Cyprus and other troubled nations may have to sell off their gold reserves to fund bailouts. The precious metal is down another 2.59% today, adding to Friday’s severe decline. Gold now looks hugely oversold in the short term, but in the medium term the sell off is yet to reach extreme levels. Click here to view full-sized image Click here to view full-sized image • Elsewhere, commodity related pairs are selling off after Chinese economic data fell well below expected levels. GDP came in at 7.7%, with industrial production dropping to 8.9%. • The NZD/USD and AUD/JPY are down around 0.8%, with the AUD/USD down 0.66%. Click here to view full-sized image Click here to view full-sized image Click here to view full-sized image Coming up today: • Coming up today, we have European trade balance figures. • US empire state manufacturing follow at 13.30. Bet Idea: • Sentiment against gold is reaching extreme levels based on short term moves, while the Hulbert Gold Sentiment Index has reached record lows. With enforced selling of gold reserves on the cards, the macro political system could warrant such a sell off in the medium term, but in the short term (over the next 7 days) there could be room for a bounce here. Click here to view full-sized image • A HIGHER trade on Gold to be above $1475 in 7 days time could return 238% if successful. Click here to view full-sized image This is presented as an idea to stimulate fixed odds financial betting ideas and is not financial advice. Summary Click here to view full-sized image

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