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As I feared yesterday. I sold half of my shares in case it goes down to $1200.
This is not looking good at all. If gold doesn't catch a bid soon I'm selling my shares and waiting this out.
This week gold is going up pre-market only to be clubbed for the rest of the day :/
S&P 500 futures are red so gold may benefit from it today. I'd love to see it above $1240 at long last.
Gold higher a few $ overnight. Just wait for US traders to start dumping...
Yeah, I decided to wait and see.
Oh my, huge spike in NG. Anyone buying here?
Yeah, I was prepering myself for another -10% day. Let's see how much strength is left in gold.
EDIT: Can't say the same thing about miners. Still very weak :(
Still, either spot is breaking above $1240 soon or it's going to revisit previous lows, destroying miners along the way.
Nonfarm payrolls at 250K vs 193K forecast. DXY surging.
GDX should be much, much higher already. Gold is great but miners underperforming. Another slam coming? :/
Spot is gaining at 2x rate DXY is losing its value. That's a very nice thing to see. For the love of god, let this hold and let gold break $1240 tomorrow.
So... we're going to end this month virtually at unchanged level or even lower, after being +33%. I have to hand myself "idiot of the year" for not taking an advantage of that move. Can't watch this, I'm going to hit the gym.
This time 100 DMA is acting as a support for spot gold. Same as last week, we don't want to see gold below $1220.
Gold is tanking today. We're going to get demolished.
OTOH, considering that gold is much higher than in September and GDX still got bashed is depressing :/
Absolutely disgusting end of week in gold and miners. I wish I sold 2-3 days ago but my stupidity did not allow it.
Not sure what to think. Gold chart looks awful right now :/
I wanted to write we need to see spot above $1240 and there it is! Now hold (or rise)!
"The Central Bank Will Intervene": PBOC Said To Sell Reserves If Yuan Drops Below 7.00
https://www.zerohedge.com/news/2018-10-26/central-bank-will-intervene-pboc-said-sell-reserves-if-yuan-drops-below-700
One chart:
Yeah, yeah, yeah, no need to repeat this every day. At least not with some kind of analysis.
Heh, it's like you wrote down what's going on in my head at this very moment.
DXY taking off but gold flat so far.
OK, so the catalyst is S&P500 -1.5% pre-market.
See? Told you gold has to cool off a bit! Beautiful, green candle overnight . Over 1% up, while DXY stays in place. Please, let that hold throughout the day.
MAs and trend lines haven't lied this time. Spot held $1220 yesterday and is now way above 100 DMA.
BTW: If there's an obvious political catalyst to this move that I don't see then please share.
No, no, no, no, no. We don't want to see spot below $1220 again. Please hold!
Let's hope they know what they're doing :).
First Poland, now Hungary. Coincidence? Not that it helps us here but it's interesting.
Hungarian Central Bank Stuns, Announces 10-Fold Jump In Gold Reserves
Not sure how relevant that is but spot is trading around its 100 dma. I usually only watch 50 & 200.
I don't mind a cool-off in gold/miners. But nothing more than a cool-off. Another +10% here and I'm back to swing trading.