So you think the gold will go higher? Fine, throw out a call. No? it's gonna drop like a brick? Fine, throw out a number. You wanna brag about your recent trade? fine. (Oh you too? Well, we already know you lost money, so no need to make that public.) Here you can post anything and everything about Gold. Whether you trade the gold futures, gold ETFs, or individual gold stocks, don't matter. Share your opinions and vent your disgust.
So what do you think? Will we reverse here? Also keep in mind of the head & shoulders. If we break higher, it could get violent.
I lost faith in metals after this: https://www.google.com/amp/s/www.bl...n-metals-spoofing-is-under-u-s-criminal-probe
"The Justice Department accused JPMorgan metals traders under the so-called RICO statute -- a criminal racketeering law more commonly applied to mafia cases than global bank probes. RICO allows for prosecutors to charge multiple criminal acts involving a group of people in the same case as long as they were part of the same enterprise." Oh, damn. If you get charged with RICO, your life is pretty much done.
Good' ol Spoofing. Life is large! And to think we have members here who admit to doing it! Every time I call it out when I see it, I get called a moron or some-such. PFFHT
"How the probe proceeds from here is likely to be watched closely. Relatively few big-bank prosecutions have come to light during the Trump administration, compared with a spate of big penalties and guilty pleas for banks under President Barack Obama. The Justice Department declined to comment." Yet Chumpie voters are more likely to be tinfoil hat wearing, tiki torch carrying, goldbuggers who'd love to see Wall Street Banksters hung from nearest lamp post. Do they know about this? Nah above their reading level - without pictures and hand gestures from the 5th grader.
Personally, I think spoofing is overexaggerated by under-qualified regulators who wants easy scapegoat. To say that spoofing in itself can move the market is an oxymoron, or that there really are morons who have lost money because of spoofing seems pretty incredulous (at least to my ears). Even if it does move the market, why couldn't you just ride on its coattail?
Look at it this way. Spoofing must cause some damage to the market participation, in some complex way. If it did not, why would they have a rule not allowing it? Like on the SEC side...What it is with the "uptick" rule? I do not know the ins and out of that one, but there must be a REASON for it on short-selling?
Oh, and as to your original question, GC is too high. Take 'er down. $1500 seems the comfortable middle ground for now.