On Thursday and Friday COMEX gold spiked each day for US$26 and then US$36 to peak at US$1879. Both spikes were shorted heavily (by the usual suspects) into a rising trend that ended the week at $1850.30 (April contract).
Speculators posting on Wall Street Bets / Reddit today are organizing a global effort to run the shorts out of silver and gold in the coming week.
They have a lot of support after the run in GME and other U.S. shorted stocks went into moonshot mode.
May impact gold explorers in coming week.Good luck if your long GNM.
I personally won't believe it until I see it, if these millenials with momentum traders catching this technical wave can pull this off. Its going to be an interesting markets battle this week by David versus the Goliath the hedge funds.
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