Friday, March 7, 2014

Gold price goes clunk

That clunking noise you just heard was gold getting slammed down $15 instantaneously on a good jobs report.

Calculated Risk - February jobs report.

So I guess you can assume that the Wall Street bots have come back to the gold market, and they're trading instantaneously based on inputs that have utterly no bearing whatsoever on gold's physical supply/demand characteristics. Because America.

Let's see if this is enough to kill the junior miners:

You want to see GDXJ stay above $41.50 on the close.

The gold price is still in the same uptrend that it's been in, as long as it stays above $1330.

No comments:

Post a Comment