Gold Price War Underway
6 AM: the gold price shoots up close to 1675. Immediately it's slapped down almost 20 points.
Reliable sources who've followed gold for decades have remarked on both the increasing volatility in the gold price, as well as the current battle between 1650 and 1675. Somebody's jumping in when the price heads for 1675 lately (who?).
I'm becoming more convinced that we could see 100 point price swings this year on a regular basis. Prepare yourself if you own gold.
Finally, how long will the battle rage between 1650 - 1675? Who knows? But when (if?) gold can break out above, let's say, 1675 and stay there for a while, we should see the next leg up for gold. On the other hand, if it gets beaten down below 1600 and stays there a while, maybe the correction isn't over yet and we test the 1511 low.
We'll just have to wait and see.
Reliable sources who've followed gold for decades have remarked on both the increasing volatility in the gold price, as well as the current battle between 1650 and 1675. Somebody's jumping in when the price heads for 1675 lately (who?).
I'm becoming more convinced that we could see 100 point price swings this year on a regular basis. Prepare yourself if you own gold.
Finally, how long will the battle rage between 1650 - 1675? Who knows? But when (if?) gold can break out above, let's say, 1675 and stay there for a while, we should see the next leg up for gold. On the other hand, if it gets beaten down below 1600 and stays there a while, maybe the correction isn't over yet and we test the 1511 low.
We'll just have to wait and see.
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