This mornings trading........IN GPG.......On just 48K shares the price dropped back down to .59.
The next 200K shares took the price to .57/.59. Thats where the buyers are.
So far there continues to be some selling (profit taking) but not a lot. Since 13:13 there has been 2 trade total from either exchange and the spread is 3 cents.
The MM's/algos (what ever they may be) can see all the orders. IMO The move to .64 was pure manipulation.
IN GOLD.......Today is Friday and it appears traders are taking some profits as gold was headed down even though the dollar was down .33 at 6:55am. At the same time the $ began to rally and is now hitting a resistance level at 96.65 while gold has bounced off short term support and moving higher.
Yesterday the dollar experienced a death cross (just barely), the 50 day ma breaking below the 200 day ma. This is a bearish technical sign and if confirmed by further downside, and should gold see a short term correction, it is unlikely to go below the support at $1775-$1750. Its possible this mornings low ($1794) is the correction! Watch the US$!!