@atomik
I feel the same. I think it should have been at or above 40c compared to its peers.
The shorts are desperately trying to cover lower but no volume is coming at these prices.
Not many willing sellers. Shorts have a choice to cover today at .355-.36 or leave it till
tomorrow and run the risk of covering at 37-38. Last two days in a row gold has held its ground.
Strong data from US, DowJones on fire, heavy shorting/selling on gold, but buyers have appeared each time.
Tuesday night gold from 1234-1220 then recovered to 1226
Wednesday night gold from 1234-1216 then recovered to 1232. Right now 1236
Gold is showing strength, buyers showing up in the dip. All good signs.
I think gold wants to go higher.( I always feel like that, a crazy Gold Bull)
Right now if I was short, I would be very worried. Of course shorts have bigger B.......than I have.
I am guessing some nice action in cards before the end of the day.
And if shorts still don't cover than I will be worried, that means they have some better plans.
Oohhh Scary.
Anyway, right now momentum is with the Gold Bulls.
All the best.
