Gold Market Wire
News, analysis and commentary for gold traders and investors
Gold Market Update
Gold Reverses Sharply on News of Vaccine Potential
November 9, 2020 - - (Gold Market Wire) - Gold is down over 4% on news that a vaccine for Covid-19 may appear to be successful in trials. Gold has unwound all of last week's gains on the news.
Quite honestly, the powering stock market and the sell-off of Gold may be a natural reaction to the news, but it is only news related. There should be no fundamental damage to the Gold price. Nothing has changed in the world of monetary chaos - actually it continues to grow, as a Biden Presidency means more debt...more (pointless_ 'stimulus', and a lot of debt wiped out.
If you leveraged up, you;ve probably been stopped out. If your riding length without margin, there is little reason to cut. The market should come right back after it digests the news. This is a news based rally.
That is all.