News, analysis and commentary for gold traders and investors

"Be Right - Sit Tight"

Jesse Livermore
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Gold Market Wire

News, analysis and commentary for gold traders and investors

Gold Market Opening

Gold Downtrend Getting Established

March 31, 2020 (Gold Market Wire) - Gold's downtrend is starting to form as the quarter comes to close. Yesterday we recommended a small spec short and today we hold on to it. The market needs to reclaim $1635 on the close today to have a chance to turn back up and move higher, but a stronger US Dollar is going to make tough work of it.

$1595 is still the first line of support.

The morning's focus is all on the US Dollar, now 1% up against the British pound and .5% higher vs. the Euro. Gold has its work cut out for it. The power Uptrend failed yesterday and that means pressure on Gold.

no continuation...

What refuses to go up will start to head down.

If you've been lucky enough to be short volatility the past week. It could be a good time to get flat.

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