Streets Set For Another Correction ' Posted By: Jo

Stimulus hopes fadeacross the Streets as investors were expecting further monetary policy easing from European Central Banks in which recent rally was based on hopes rather than actuals . Austerity extension plan from Greece authorities will weigh much profit booking across major Indices and commodities, as Institutional investors will find commodities and indices as the best available source for liquid money rather than in Money market instruments. Stand-off between Greece and Germany on credit allocation will bring instability in financial markets, prompting high liquidation of assets across major investments.

Gold, one of the most liquid investment now available with Central Banks, Monetary authorities like IMF, BIS and major Countries which are most affected in euro-zone worriesmay liquidate their holdings due to firm dollar and sustained Gold price which is hovering near 1600 levels. Gold in technical charts is pointing to a deep correction with key support of 1584 levels, below which it hassupports at 1564 and 1550. Below, 1550, Gold is likely to test 1520 levels where the market is eyeing for a healthy correctionvery soon.Election time at US can trim losses in major indices and commodities.Online Forex Trading Onlineforex broker Online gold trading

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