GOLD 0.51% $1,391.7 gold futures

Well negative end of week for prices - close below old all time...

  1. 13,021 Posts.
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    Well

    negative end of week for prices - close below old all time closing high 18181 ish and close below round number 1800

    so now has to test old trading high which took a few goes to clear at 1771 ish as it looks for support

    strange week with data feeds of gold.org not displaying correctly on graphs as well as ***** from Tuesday

    aud gold price a big fall to end the week at its lowest point however you wouldn’t know that with such spectacular rebounds on majors here on options expiry Thursday and follow through yesterday - I don’t know if that was a monster short cover rally or buyers looking for bargains expecting gold to close the week higher which it looked like doing after 3 big attempts from Wednesday to get back over 1818 ish

    either way the price action did not work out ay week end and locals here saw a big weekly decline in margins with pog aud at low at weeks close together big rise in energy prices

    who knows what happens Monday - major etf of gold stocks finished flat and rebounded to ignore the gold price action all week

    good news imo for those that took the punt on majors mid week- big gains off the bottoms already despite the gold price so plenty profit there to be booked if so inclined

    wild days indeed - will
    Find support at some stage but it hasn’t yet clearly

    see how it goes next week

    good luck
 
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