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18/10/19
16:22
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Originally posted by Crom Valen:
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Nobody here was predicting an imminent ‘moonshot’ for Gold, and someone would have to be a pathological liar to suggest that. What has been stated again by anti-gold trolls for weeks now was that Gold was going to plummet. Every week the same story, figures in the USD 1300 and 1200 an oz regions quoted, Gold apparently ‘regressing to the mean’, goofy charts have been in abundance. Over that entire time, Gold has held up as the market awaits definitive news on the outcome of some crunch issues. - Brexit Deal not over the line. - US - China Trade Deal not done. - China GDP figures dire and trending down. - US earnings mixed so far.
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Held up? Sorry to deliver the bad news. Gold has lost over 6% in six weeks, recovered slightly and now showing signs of heading back towards that 6% and beyond. That is over half way to what is known as a technical correction. Held up?