The oil price is one of the big reasons in the gold market. It looks like gold can test 600 again very soon.
More Quotes from Ellison Chu:
I think people have lost direction at these levels. (There's) some physical interest in silver and gold, but not much.Ellison Chu
There's a lot of selling. I think it's mostly from China.
Ellison Chu
I think gold will be trading around 548 to around 555. It's a short-term range.
Ellison Chu
The time for the announcement for the ETF is getting closer. Basically, the turnover is very small in silver because all players and traders are very nervous about the price at the moment.
Ellison Chu
I don't dare say that I favor gold in the long run. After gold's rise to these levels, I think there will be a correction.
Ellison Chu
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Based on Topics: Gold QuotesIf you want to direct, you've got to work.
John Goodman
Chance is perhaps the pseudonym of God when he did not want to sign.
Anatole France
Life does not agree with philosophy: There is no happiness that is not idleness, and only what is useless is pleasurable.
Anton Chekhov