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 Snaps Back As Equities Recover

May 13, 2021 - (Gold Market Wire) - The Precious Metals are shadowing the vicissitudes of the stock market, as the trading community attempts to evaluate if the equity sell-off has abated, and the rally is ready to resume. Here's the DOW chart:

...a pause in the carnage? ... or the end of the sell-off?
Gold...so far the horizontal is holding

All in all the Daily chart reveals some symbiosis. The metals are at the mercy of Equities - much as we thought. But, really, the interesting facet is how well the Metals have held up. There was a pullback, yes, but the market didn't get spooked and collapse like it has so often in the past...and, equally interesting, the Metals didn't move first, and anticipate the market. That has been a recurrent theme for months now. For us, that shows that the metals are garnering some real, central, core strength. And that is the real take-away from the past two days of trading. We're encouraged.

Let's see how equities finish out the week.

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