News, analysis and commentary for gold traders and investors

"Be Right - Sit Tight"

Jesse Livermore
Gold Market Wire....News Analysis and Commentary for Gold Traders and Investors...Gold Market Wire
Gold Market Wire....News Analysis and Commentary for Gold Traders and Investors...Gold Market Wire
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US Month on Month Job Cuts by Employers Soar 54% in July
US Month on Month Job Cuts by Employers Soar 54% in July
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CME Raises Silver Margins by 12.5%
CME Raises Silver Margins by 12.5%
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United States Imported a Record 126.6 tonnes of Gold from Switzerland in May
United States Imported a Record 126.6 tonnes of Gold from Switzerland in May
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First Half 2020 Gold ETF Inflows Hit Record of $40 Billion
First Half 2020 Gold ETF Inflows Hit Record of $40 Billion
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Fitch Ratings Calls 2020 "Record Year" for Sovereign Defaults
Fitch Ratings Calls 2020 "Record Year" for Sovereign Defaults
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Bank of Japan to Loan $1 Trillion into Economy
Bank of Japan to Loan $1 Trillion into Economy
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Gold Market Wire

News, analysis and commentary for gold traders and investors

Gold Market Opening

Gold Trades at Record High Price of $1945 as Market Soars in Asian Trade

July 27, 2020 - (Gold Market Wire) - Gold has shattered its previous price record at $1921 to trade as high as $1945. The market is now in near vertical ascent for its fifth session in a row, as the chart depicts.

a new record price...and a vertical chart

Last week's action was highly conducive to a continued rally, and the target of the all-time high was there for the taking. As is so often the case, volume told the story of a market ready to follow through to the upside.

volume spike on Wednesday and Thursday set the stage

As chaotic, nearly neurotic, behavior of government's, especially in the UK and Europe surrounding Covid-19, continue to capture the political stage, public confidence continues to wane and Gold continues to rise. Gold is the ultimate barometer of public confidence in government, and the all-time high tells us where the public stand on the issue, loud and clear.

Day after day the news just piles up and every part of it seems to confirm that an era of monetary chaos is upon us. It is going to be tough for Gold to go down in an environment like this, but it will likely retrace before long. That will provide what will probably be the final chance to build further long positions before we enter a full-scale monetary crisis and Gold moves over $2,000 an ounce to much higher levels.

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