Australia's largest stock trading and investment forum Australia's #1 stock forum

GOLD

Click for more information

0.51%

$1,391.7 gold futures

Sorry(OT) Where is the "Diamonds" Thread, under "Commodities"? I...

First 44335 Last

Share
Profile

Follow
Popeye82

22,161 Posts.

485

18/07/18

12:01

Post #: 34417761
Share

Originally posted by AverageJoe ↑

That logical mechanics does not apply currently or the divergence has been quite clear for a few months. Did you notice some of the tier 1 gold stocks were actually rallying off that gold destruction from the Feds commentary?

You will have noticed that the traders were already factoring some sort of negative reaction well ahead of the news last night hence the larger cap goldies were already pulling back recently. No doubt the cushioning of the AUDUSD helps the margin contraction. I have taken out a short on this fx since early June with a very optimistic target.

On the flip side Commercials of the COT is still very much net long and I anticipate that based on their positioning, they will soon turn to net short bias. No idea when as COT is not a timing tool.

Expand

Sorry(OT)

Where is the "Diamonds" Thread, under "Commodities"?
I have 1 news I wanted to share.
Upvote

0 Great analysis

Reply

There are more pages in this discussion • 82,107 more messages in this thread...

First 44335 Last

Add GOLD (COMEX) to my watchlist