News, analysis and commentary for gold traders and investors

"Be Right - Sit Tight"

Jesse Livermore
Gold Market Wire....News Analysis and Commentary for Gold Traders and Investors...Gold Market Wire
Gold Market Wire....News Analysis and Commentary for Gold Traders and Investors...Gold Market Wire
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Gold Makes Its Run to $2,000 an ounce...Target in Sight
Gold Makes Its Run to $2,000 an ounce...Target in Sight
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CME Raises Silver Margins by 12.5%
CME Raises Silver Margins by 12.5%
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United States Imported a Record 126.6 tonnes of Gold from Switzerland in May
United States Imported a Record 126.6 tonnes of Gold from Switzerland in May
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First Half 2020 Gold ETF Inflows Hit Record of $40 Billion
First Half 2020 Gold ETF Inflows Hit Record of $40 Billion
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Central Bank Net Gold Purchases Totalled 39.8 tonnes in May - WGC
Central Bank Net Gold Purchases Totalled 39.8 tonnes in May - WGC
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Fitch Ratings Calls 2020 "Record Year" for Sovereign Defaults
Fitch Ratings Calls 2020 "Record Year" for Sovereign Defaults
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Bank of Japan to Loan $1 Trillion into Economy
Bank of Japan to Loan $1 Trillion into Economy
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*** GOLD MARKET WIRE ***
*** GOLD MARKET WIRE ***
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Gold Market Wire

News, analysis and commentary for gold traders and investors

Gold Market Update

Checking the Fibs

April 22 2020 - (Gold Market Wire) - A look at the Fibonacci retracements reveals our 'bounce point' this morning.

$1680.50 is the first retracement

This shows the indicator is alive and well, performing 2 out of the last 4 tests lower. The market remains choppy however. We are still in the land of "lower highs" over the past 7 sessions (today included), so any rally of seriousness needs to erase some of that action. We acknowledge the downtrend has been breached, as mentioned earlier, but need to see a decent close on the weekly before confirming an uptrend.

Patience is called for.

The COMEX awaits.

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