Gold Market Wire
News, analysis and commentary for gold traders and investors
Gold Market Update
Gold Struggles to Hold Gains
August 3, 2022 - (Gold Market Wire) - Our last missive on Gold saw us preparing for a close below $1680, with short-stick in hand. Well, we almost got there, but then, on the close, the market retraced and the sell-signal didnlt materialize. Saved by the technicals yet again. Don't say they don't work! The intra-day low came in at $1680.92 (basis the futures), and we have rallied since then, and now we have started the pullback.
Now for the real test. Can we build on the rally? The move so far is nice, but, really, is not very impressive yet. Just two months ago we were over $100 higher, so we're not getting excited.
Gold has a lot of work to do.