News, analysis and commentary for gold traders and investors

"Be Right - Sit Tight"

Jesse Livermore
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**** Gold Market Wire ****
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France Recalls Its Ambassadors from USA and Australia...Calls Their Behavior "Unacceptable" over Scuttled Submarine Deal...Calls Australian Behavior "A Stab in the Back"
France Recalls Its Ambassadors from USA and Australia...Calls Their Behavior "Unacceptable" over Scuttled Submarine Deal...Calls Australian Behavior "A Stab in the Back"
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US Bans American Banks from Purchasing Russian Sovereign Debt
US Bans American Banks from Purchasing Russian Sovereign Debt
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*** GOLD MARKET WIRE ***
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Gold Market Wire

News, analysis and commentary for gold traders and investors

Gold Market Update

Gold Runs Hi/Lo Right on the Trend Lines

January 29, 2021 - (Gold Market Wire) - Gold has touched both of our chart parameters in European trade, defining the hi/lo so far today. The trend lines we paid out earlier this week have worked well...and as we are always wont to re-iterate; those who say technicals don't help you in the market are wrong and without compass. The chart below speak clearly.

simple trend lines, drawn properly, are of real value.

As we said yesterday, US Dollar strength was slowing Gold's progress, but wasn't causing it to sell off. We noted that given the Dollar's strength, we were actually impressed with the way Gold has held, and we continue to be. Few outside of this site are willing to countenance it, but we a rising Dollar may no longer be an impediment to Gold's progress....or at least, may not be the cause of a violent Gold sell-off.

Everyday is unique in the market, but trends are always in motion, whether in continuance or in reversal, break out or break down. It's true that Gold's is indecisive. It is still worried about a Dollar rally. But it is gaining courage that a stronger Dollar may not inflict real damage. The articles we have penned in the past month have laid out the historical basis for such a move, and recent action gives support to our increasingly held position that the "inverse monetary proxy" theory of Gold and the Dollar may be waning. Along with the chart work, there are simply too many people espousing this correlation....and too many people talking their book, and howling about the imminent death of the Dollar.

We disagree.

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