Agnico Eagle Mines Ltd T.AEM

A Fibonacci Retrace Hit Today.

[cleareye]

In August 2018 gold hit  $1167 and then it hit a high of $2095 in July 2020.

So the 50% Fibonacci Retracement of around 1630 was hit today and now we're bouncing higher.
($1630 EOD translates to around the $1621 level that Kitco and Goldprice pump out as the minute by minute price.)

We'll see if that is the bottom. I have believed that the devaluation of currencies over the past few years, if not decades, will eventually drive gold higher.

It'll bottom when the "market" decides - but, todays low is another natural bottom.

Then the shorters of a stock like krr will cover.

Most chart analyzers have ignored this 50% retracement mark - maybe for good reason, maybe not.

It's just another point on a chart.


cleareye.

[Vinnie3]

You are right and here is my sarcastic take Kitco News - nobody is in gold Traders are ramping up short positions on gold, with fund managers more bearish on the metal than any other time over the past four years, according to a Bloomberg report. The .....bears have the solid overall .... advantage.   Bears' next near-term downside price objective is pushing futures prices below .

[raglo]

Vinnie, is that your sincery opinion? Opinion - me, or you sarcastic opinion! either way, you may be right if the US $ stay the only world reserve currency. right now it is certainly  the cleanest shirt in the dirty laundry basket.  Travel apps and food delivery services are where the billions are.  really? this certainly looks like a clue that it is your sarcastic

[Vinnie3]

Sincerely, Bankers and governments worldwide are working the stock markets to ensure a sort of safe landing. Impossible since the generous political promises, and follow though, over decades, have ruined our economies. We are led to believe that this is a result of innumerable investment firms all over the world and thus  no one can control the markets. But they are....controlling the