Gold now $1,397 on COMEX as just spiked there, now back to
$1,388. What in the world is going on? I was joking when I said
maybe $1,400 at the NY open but almost made it there a few minutes
ago. This is typical of how perverse the markets are, to take
a huge jump overnight when most aren't watching leaving shorts
aghast in the morning. The only thing that makes sense to me
is a huge short squeeze, but the momentum behind it is really
powerful to power through a 6 year resistance level like
butter.
first off $6 is not what I call a big spike, but now gold is up
about 20 that's a big move, and again it was in a tight pattern as
Steve mentioned below, It had a big move after 8 pm. index
futures are also up nicely as well this evening
Gold now $1,397 on COMEX
Posted by victorh on 19th of Jun 2019 at 09:06 pm
Gold now $1,397 on COMEX as just spiked there, now back to $1,388. What in the world is going on? I was joking when I said maybe $1,400 at the NY open but almost made it there a few minutes ago. This is typical of how perverse the markets are, to take a huge jump overnight when most aren't watching leaving shorts aghast in the morning. The only thing that makes sense to me is a huge short squeeze, but the momentum behind it is really powerful to power through a 6 year resistance level like butter.
first off $6 is not
Posted by matt on 19th of Jun 2019 at 10:48 pm
first off $6 is not what I call a big spike, but now gold is up about 20 that's a big move, and again it was in a tight pattern as Steve mentioned below, It had a big move after 8 pm. index futures are also up nicely as well this evening
what caused that?
Posted by law6 on 19th of Jun 2019 at 10:42 pm
what caused that?