The Phaserl


The Gold Move We’ve Been Waiting For

from Daily

Well there you go. Gold made the move we’ve been waiting for last night. It went down, falling about US$30 an ounce from the previous session. The reason given for the fall was stronger than expected US data — durable goods orders and consumer confidence readings improved — and an easing of tensions in Ukraine.

This was just the excuse the market needed to break lower. It had been trading in an increasingly tighter range these past few weeks and the pressure was building. It only required a few marginal data releases to push it either way.

That they all seemed to arrive on the same day was just what the bears were after. The bulls capitulated. When the selling took prices down to US$1,275 (previous support) it triggered a whole bunch of stop-loss selling, which pushed prices down further. It was also options expiration day for the June contract, which added to the volatility.

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1 comment to The Gold Move We’ve Been Waiting For

  • James Woroble Jr

    How it works… The boy[Z] hit it (up or down) to create volatility and therefore profits, then the monopolized financial Jew{Z]media fingers through the massive lists of news feed, cherry picking the ‘reasons’ why — giving cover to the manipulation of fellow tribe members and reinforcing the myth of ‘chosen’ intellect, perception and value.

    Everyone win[Z]! —- except the unclean ‘muppets’.

    A desperate shoutout to Russia and China — Will you please accelerate your agenda so Americans can return again to a free market, with real consequences for fraud.

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