Buying Gold and Swiss Franc

I have decided to position myself long GOLD and Swiss Franc (CHF). I feel with the ongoing Political uncertainty in the USA as well as the world we are poised for a safe haven asset flow. Many may say well what about the Japanese Yen? Well considering the Japanese Yen has been up over 10% over the Swiss Franc so far this year it tells you that traders have left the Swiss Franc to use the YEN as their preferred safe haven currency. The only problem with this is Japan has promised many times they will not let the YEN fall much lower, and at some point you must believe them. After a considerable amount of threatening from the BOJ, on everything from more easing to intervention we have finally seen the YEN begin to become weaker due to interest rate changes in the treasuries from the US currency fueling the move. We would like to think this is the only thing that has moved the YEN, however I feel the move comes from the BOJ who may just be secretly intervening.

I have sold short the USDCHF here at 9912 looking for a retest of the 9500 are in the upcoming 2-4 months. We may also see the EURUSD move higher, however this may be a tricky assumption.

Now lets jump to GOLD. We have seen a move down in GOLD recently with all this talk about US raising rates. Many fund managers have started to believe this as we have seen yields move, however, I am not convinced. I think we base out here at the moving average on the weekly and pop back up to at least 1300 level in the next 2 to 4 months. We are moving into a tricky political environment as well as a geo political environment that I feel many fund managers may feel more comfortable staying in the safe haven assets like GOLD as well as the SWISS FRANC.

I will be doing a video and placing it in the members section to show more detail, I just wanted to put on the record why I am buying Gold and the Swiss Franc here. 😉