In a recent article published on SeekingAlpha, Jeffrey Dow Jones a hedge fund analyst claims that gold sell off can go as far as $800 per ounce.
Lahore, Pakistan -- (SBWIRE) -- 04/19/2014 -- In a recent article published on SeekingAlpha, Jeffrey Dow Jones a hedge fund analyst claims that gold sell off can go as far as $800 per ounce. Right now gold is trading around $1,300 and a price of $800 seems to be far off. This is what Jeffrey Do Jones says: “I understand that $800/oz feels really far away, but consider we were just there in late 2007.” According to Jeffrey Dow Jones gold is tremendously overvalued relative to its fundamentals and the gold prices are slowly being accepted as a bubble. According to him a trend following approach has generated almost double the return of gold with less volatility.
There are many day traders who trade gold. Most of these day traders are interested in riding the trend when it develops in the gold market! All trends develop when the fundamentals in the market change. Fundamentally gold maybe overvalued now and the correct price of gold should be $800 however it can take months or even years before gold price drops to this level. Technical analysis is one subject that professional traders and investors use to predict the prices in the market. Traders Elite team comprises of professional traders who specialize in trading forex and gold. In a recent short trade Traders Elite team made 2,288 pips when gold price fell from $1,604.88 to $1,582. Traders Elite signals have an average winrate of 86.4% calculated over a period of 22 months. During these 22 months the team was able to make 9,200 pips. Traders Elite team is giving 12 months FREE to anyone who joins them for 12 months.
About Jeffrey Dow Jones
Jeffrey Dow Jones is the managing editor for Alpine Advisor. He has previously worked for PaineWebber/UBS and Ford Motor Credit Company, and he spent the last decade co-managing a group of hedge funds. He holds a degree in Business Economics with a specialization in Computer Programming from The University of California - Los Angeles.
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