December Gold (GCZ7)
- Thread starter Realist
- Start date
I've noticed a tendency over the years for gold to bottom in November. Perhaps this year will be similar.
I don't know, but in terms of the stocks, I just got a short-term sell, and I wouldn't be surprised if it extended out to sometime in November before it expired. Seems to happen almost every year.
I don't know, but in terms of the stocks, I just got a short-term sell, and I wouldn't be surprised if it extended out to sometime in November before it expired. Seems to happen almost every year.
So far sellers are showing up right around 750 cash. This is likely just some typical producer selling for the October contract. Even though the USDX has lost ground again, the DX has had erratic price action during its short-term bottoms. I still suspect that gold is trading at the high end of the range but the pullback/consolidation looks to remain minimal in fashion. 720 appears to be rock solid support for the time being so for the now the range is 720-750...
Actually I meant November Gold (GCX7) not October. In any case, some sellers still appear to be showing up at 750 cash as expected. I am curious to see how the COTs look when they are released today. In the big picture, the USDX rally has been fairly weak so far while every decent selloff in gold is met with anxious buyers. I'm still flat the metals complex right now and waiting for further clues toward the end of the month. Still holding SPZ7 as the S&P continues to maintain all time record highs...