Gold is on a bear tear!

Discussion in 'Commodity Futures' started by Overnight, Mar 7, 2017.

  1. Overnight

    Overnight

    It's dropped 500 tics since last Monday? Yowzers! That $5K of a drop per contract, in 5-6 trading days!

    Yum.
     
  2. A drop in the bucket compared to what it did post-election.
     
  3. I wonder if the money is leaving gold because of the potential rise in interest rates, or because it is moving into bitcoin; which has taken off this week
     
  4. xandman

    xandman

    I would say that today was a good come back.
     
  5. dealmaker

    dealmaker

  6. As of now, gold up 1.8% just for today.
    However I have this niggly feeling the spike up today is not going to continue, it's a dummy move.
    My guess is gold futures will continue to run up after hours and then to only get dumped again tomorrow.
    Anyhow, just a suspicion, I'm going to sit out this move in the meantime.
    If wrong there's plenty of opportunity to get in still in a day or two or three.
     
  7. dealmaker

    dealmaker

  8. Gold still looking a bit iffy.
    Not 100% convinced we have bottomed this PB, but not looking too bearish.
    For those looking to enter now, I would remain very cautious, my sugestion is stay sidelined atm.
     
  9. yabz

    yabz

    I am closing my long position. Gold is not looking good. I entered @ 1262 so I'm making a small loss:( I'm not going short yet though. Will wait to see which way the wind blows....
     
    #10     Oct 2, 2017