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

The Technical Take

April Gold Rips Through 20-Day Moving Average

March 24, 2020 - (Gold Market Wire) - April futures have ripped through the 20-day moving average at $1591 and traded as high as $1629 as the Gold market moves decisively higher.

Then market has gained so much momentum and action right now, our normal charting service has fallen behind, and we have temporarily moved to the "horse's mouth" - so to speak.

gold is being traded in size

This kind of vertical action has to pause. The New York opening will see desks balance out and we should calm down for a while - but make no mistake - the Gold market is bordering on frenzy today. If you close all the coin shops for Corona Virus concerns - yes things will get manic. The Gold price responds to the machinations of the general public, and right now that public is getting gold fever from the Corona scare. That type of fear is what causes markets like today. Gold is a barometer of fear... and is doing exactly what it should be doing in times like this: Providing some vestige of security in a world gone mad with panic.It is unlikely to stop soon. Nor will it quickly return to 'normal' once the Virus has passed.

The public is losing faith in government - and that is what Gold feeds on.

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