Replies to post #13895 on Direxion Daily Gold Miners Bull 2X (NUGT)

[trunkmonk]

when it reached 1080, which appears to be the number where everyone wants to cover, Its bounced off it, didnt expect the jump so high, but the last few fridays seems to be the most significant day of the week.

[4Godnwv]

By Jim Wyckoff of Kitco News
Friday July 31, 2015 09:41
(Kitco News) - Gold prices on Friday morning are posting a decent rebound from selling pressure that earlier this week drove prices to a 5.5-year low. Short covering in the futures market and bargain hunting in the cash market, on this last trading day of the week and of the month, are featured bullish inputs for gold and silver markets. The U.S. dollar index has also sold off sharply Friday morning, which is a bullish "outside market" factor for the precious metals markets. December gold was last up $8.80 an ounce at $1,097.50.