Hi S.G. ... yep very interesting indeed. There's a school of thought 'out there' that is suspicious of what they regard as an orchestrated push sending gold below $1000 just before options expiry lapsed for gold. Some nice profits were there for the taking for some big players with the move below $1000.
With the options expiry now out of the way have the decks been cleared for gold to rise again? Quite possibly, as long as $990 (USD) holds at the close of the NY spot mkt.
If there's a decisive break below $990 there could be a further $20 downside to around the $970 support zone.
Line ball at the moment. Big night coming up. I reckon as we should know which way it will break (short term) by the close of the N.Y. market tonight.
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