Post by
tarsands on Aug 12, 2020 12:18pm
Hopefully that was that!
The price of gold seems too be holding roughly steady today after its plunge yesterday.
On the 6th of August ( 3 PM) , which is Thursday last week it traded as high as $2078.
And then it failed there and dropped each day it looks like.
Falling too its low of last night of $1877 approx., but recovered and is now at $1957 roughly!
Again hopefully prices have stabilized and can now resume its SLOW ASCENT.
PS that is a drop from peak too bottom of darn near $200 per oz.
That is the same as the fall in gold we got in March. But then it was profit taking on the DOW being in free fall and throwing gold and gold equities out with the bath water.
Yesterdays or the current freefall was due too overheated technicals and too much of a move in price due too the MOMO crowd and the smart money decided too play games and trigger the stop losses people and traders had set in.
Comment by
Teakbois on Aug 12, 2020 4:06pm
This is not a correction. It is an intervention by the banksters who are on the ropes to deliver gold they dont have. They cover their shorts after they have gotten the longs to capitulate and boy did they capitulate. Still in there today. Volume after 12:30 is twice normal as thats what it takes to hold gold down. This has been their MO for years!!