...as the fellas lay their money down... HeartBreaker LZ Gold futures rigged? - https://duckduckgo.com/?q=gold+futures+rigged?&t=h_&ia=web
October? Try August 2020. You could have bought anything in the universe then and its value would have increased. Anything. that is, except for gold and silver. No one wants your dumb rock.
Several more posts along these lines and the bottom will be in. When everybody hates it, badmouths it, when nobody wants it. Back up the truck.
Maybe. Not now though. Relative all time lows just printed. So there’s that. It can’t rally without changing that first. I suppose the odd person makes money bottom ticking, but it’s not common. It’s like macro economic on the intraday. I wish you all the best of luck on that.
We agree. I day trade. Long term trading that emotional Beaitch Gold from what I understand, requires loathing and outright disgust with that barbarous element by the Great Majority of Investors. That's why I said 'Several More Posts' along those lines is a first step to a bottom. Meanwhile, a hearty daytrader can take blood simple price action trades at support and resistance off a 5minute chart, and Still, that Goldielocks has a higher than average chance of being a freakin heartbreaker, lol. When she's good she's very good but she's crazy and will steal your wallet off the dresser and your wine from the fridge. Much as she treats the fans with utter disrespect, I still like to keep her in my thoughts and charts. Piggies and Cows? How the hell do people daytrade Those wild beasts? Anybody?
As the saying goes, every dog has its day and gold may return with a bang one day. By the way, one of my favourite TV shows in recent years is: https://en.wikipedia.org/wiki/Aussie_Gold_Hunters If I lived down under, I'd definitely be tempted to try my hand at a bit of metal detecting in the outback, although I don't know if I could handle the heat and the flies. I'm also a fan of: https://en.wikipedia.org/wiki/Outback_Opal_Hunters
Regarding heat, where I live most who work outdoors start the day early and knock off early. The flies, you can get those insect face protection wear things. The alure to go prospecting sounds good but chances of profit are slim as costs are high, metal detectors, 4x4, rugged camper trailer, fuel, food and water which won't spoil, solar equipment, battery chargers.....
Don't be fooled by gold's continued mid month dummy runups. It's the manipulators favourite tool to continually crush the price of gold over the longer term. What they do, create a dummy rally and mainly in the same months pull the rug from under your feet and plunge gold back. This in effect prevents gold going into a new monthly high. Not saying they will do it again this month, but this a heads up warning on how the game is played. The harder the run up and subsequent mid month plunge, the more they wreck it. New monthly highs is what the market wants to see, once momentum gets underway it becomes more difficult to suppress the upward move. Heavy profit taking at tops is where the trends reverse and easier to manipulate down again. That's why I mentioned some posts back that December was a write off, very difficult this month to get gold above November's highs.