Days like today in the

    Posted by goldnice on 8th of Jan 2021 at 09:03 pm

    Days like today in the gold and silver market make me laugh with contempt. I don't always agree with "GATA" as i like to respect the price action {Technical Analysis} itself but today was classic textbook GATA action. With bitcoin at $40k+ what better way to play psychological warfare then to hammer gold and silver on a Fri close with bitcoin "Mooning". The only reason i own bitcoin is just for this exact scenario playing out. Good luck to all. Obviously because i keep tight stops on all my gold and silver stocks i was stopped out of most positions at the open today with either small profits or minor losses. 

    goldnice needs to put in

    Posted by matt on 8th of Jan 2021 at 10:13 pm

    goldnice needs to put in a request to change his username to bitnice     

    GOLD COT report Jan 8 Gold

    Posted by ridgetopab on 8th of Jan 2021 at 09:28 pm

    GOLD COT report

    Jan 8 Gold COT - Link

     Just a normal day in the markets.  Filled gap and held support.

    Not much volume for the -4.8% move in GDX.  Commercial short position up slightly.

    Deflation/recession sounds like the current concern and if yield/US dollar rises no driver for gold price

    NUGT 2X leveraged play on $GDM and has problems mirroring the index- recommended for day trade only - note gaps compared to index.

    $GDM - Chart Link

    NUGT - Chart Link

Newsletter

Subscribe to our email list for regular free market updates
as well as a chance to get coupons!