Gold Market Wire
News, analysis and commentary for gold traders and investors
Gold Market Update
Gold Gaps Higher
August 18, 2020 - (Gold Market Wire) - Although Silver has taken center stage for many of the recent sessions, Gold is fighting its own corner handsomely, gapping up and clearing the horizontal resistance. Now comfortable over the $2000 level, Gold looks ready to settle in for a rally to challenge the recent all-time high.
The chart says it all: a proper horizontal resistance - cleared and built on.
In the world of reality - a scarce commodity these days - one can understand Gold's persistence. Michelle Obama's call that it is necessary to "vote for Joe Biden like our lives depend on it" is straight out of 'bizzaro-world.' A man who is so challenged mentally now he couldn't stand a five minute debate with Donald Trump, let alone an evening, is being hailed by one of the Obama's as a saviour. (Were they too embarrassed to get Barack Hussein to stand up and say it?) Is this really the best that the Democrats can come up with? Or do they truly want someone so enfeebled he cannot command the office to be President - just so shadow actors can wield power. It is a strange choice, when the Democrats had viable options to field. The decision to let Biden stand is not just uninspiring in the extreme - it is starting to look downright weird.
The Gold price will feed on that.