Gold is on a bear tear!
- Thread starter Overnight
- Start date
A drop in the bucket compared to what it did post-election.
not looking good for this yellow commodity (http://www.funds-money.com/gold-slips-five-week-low/)
they said if the nfp data does come in better than market expectations, it will drag gold prices further,
they said if the nfp data does come in better than market expectations, it will drag gold prices further,
I wonder if the money is leaving gold because of the potential rise in interest rates, or because it is moving into bitcoin; which has taken off this week
Bullion Baron 
As of now, gold up 1.8% just for today.
However I have this niggly feeling the spike up today is not going to continue, it's a dummy move.
My guess is gold futures will continue to run up after hours and then to only get dumped again tomorrow.
Anyhow, just a suspicion, I'm going to sit out this move in the meantime.
If wrong there's plenty of opportunity to get in still in a day or two or three.
However I have this niggly feeling the spike up today is not going to continue, it's a dummy move.
My guess is gold futures will continue to run up after hours and then to only get dumped again tomorrow.
Anyhow, just a suspicion, I'm going to sit out this move in the meantime.
If wrong there's plenty of opportunity to get in still in a day or two or three.
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Raoul Pal@RaoulGMI 6h6 hours ago
#GOLD I think its time for action. Gold should break the trend line in next few days but needs to clear the previous recent highs to confirm
I'm not going short yet though. Will wait to see which way the wind blows....