News, analysis and commentary for gold traders and investors

"Be Right - Sit Tight"

Jesse Livermore
Gold Market Wire... Gold Market Wire... Gold Market Wire
Gold Market Wire... Gold Market Wire... Gold Market Wire
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Gold Market Wire

News, analysis and commentary for gold traders and investors

Market Opening

A Recovery, of sorts, for Gold

March 13, 2020 - (Gold Market Wire) - It's easy to be pessimistic after the recent collapse in share prices and the Gold price. But there are solid lessons to learn here.

The first, for making money, is don't chase the market. Its tough for people to not be fully involved in the party going on in the next room, but wanting to jump in with length and courage because the market is red hot is usually a recipe for disaster. Especially so in the world of gold. Greed kills. Margin kills even more people.

https://www.goldmarketwire.com/articles/gold-weakens-as-us-equities-fall-further

We identified $1643.50 as the line to be held, early on...and pointed out the "ugly' charts when we were at $1635:

https://www.goldmarketwire.com/articles/gold-putting-up-a-fight-at-the-20-day-m-a

With equities crashing all around, the importance of holding that level multiplied. Remember - the trip down is always a lot faster than the one up. So when its time to cut, you have to act early, without prevarication - and go to the sidelines.

Gold bounced where it should have in its elevator drop down.

bounced where it should have..but can it hold?

So, a recovery of sorts, and a defense, on the first try, of important support. The $64 billion question that's on everyone's mind is what will happen to the gold price in a banking crisis. There are some roadmarks, and we will be writing about them later. As of now, the European banking sector is so enfeebled, do damaged, it is almost difficult to see how it survives. That means things like Bail-Ins, and events like those may be the roadmark that turn Gold sharply higher. If you live in the Euro zone... a Cyprus-style banking event may be coming to your neighborhood.

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