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Gold Market Wire
News, analysis and commentary for gold traders and investors
Gold Market Update
Gold Support Gives Way
April 25, 2022 - (Gold Market Wire) - Just when it looked like the collapse of the world would lead to higher Gold prices, the Precious Metals get right up to their tricks again - and sell off sharply.
While downdrafts in oil and wheat can be considered buying opportunities, we are getting fed up with Gold. We are closing the position, in total, and waiting for the air to clear. It looks like we are headed back to $1850 and likely lower, and there is little to be gained by nursing the position. The next plan will be simply to buy small at $1800, but, aside from those proverbial coins in the pocket - we are out of the market. This is no longer worth our time.