The pressure is mounting on gold

The pressure is mounting on gold

Tuesday, gold had a volatile session, swinging from $10 higher to $10 and then lower, closing around the midrange. Gold has been in a downtrend for months and finally looks to be totally breaking down. This morning about 3:00 am EST, gold suddenly fell about $12. That by itself is not proof; however, it looks like the start of a much bigger down move.

Silver, in the same downtrend, has not met the same fate as gold; however, that could be just around the corner. Silver has held up better than gold, but that could be changing this morning as well. We remain short and will stay there until the algorithm changes. For now, that day appears a long way away. Remember, conditions can change at any time without warning.

Platinum has begun moving in the exact opposite direction. The price action looks like gold and silver turned upside down. We […]

About the author: StockMan

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