RE:RE:RE:Volatility is here, in a big wayYes, lots of volitility right into 2018 I suspect. The powers that be hate this so they even try to stop shorting. Italy banned shorting in monte paschi for 3 months( until 5 of Oct. 1 month before US election ) A sign that Italy's banking system is near collapse. Old resistance of 1306 on gold becomes big time support so 1358 to 1326 could get tested and should shake a few out as the # and euro gets a little false retrace. The U.S. $ is expected to really rally but not just yet. The Feds fear that before an election.
After GG's move from .05-.19 in 3 days(380%) on declining volume, the real test will be, can this hold the low of .15 yesterday (or even the year high before this 3 day move, ) as gold settles back for another support base? Should GG be able to ignore the rest of golds today and tomorrow, and, the index in general, .215 and even .30 becomes a reality. We will see how strong the open is and how those bids and asks get shuffled around. Support strength should show up for a weekend hold. Most of us have been around long enough to always have $$$$ in reserve for actions that we never think will happen :) . Wherever it is, if GG gets pulled back to any fib retracement support, traders should be all over this.
For the past 3 days, one never went wrong buying this at the open. A higher open than yesterday's high with 3 million volume would be nice today. Not seeing that so far here 1 1/2 hr before the open