News, analysis and commentary for gold traders and investors

"Be Right - Sit Tight"

Jesse Livermore
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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

News, analysis and commentary for gold traders and investors

The Technical Take

Gold Fights Back Above $1649.50

We moved through the horizontal support line at $1649.50 yesterday - and got the downdraft immediately. But it only shed about $8, before the after-market picked up the baton and started fighting back.

Gold is fighting the good fight - to stay above the horizontal support.

the power uptrend line gets re-drawn this a.m.

It's choppy out there. Seoul is reporting more Corona Virus cases, knocking the generally positive news from the East about the virus yesterday. That's giving a slight bid to Gold. Stocks are also retreating this morning in Europe, which is assisting the gold price. The Gold market is nervous but the built in risk-premium is under-pinning the price as we head into the European opening.

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