News, analysis and commentary for gold traders and investors

The Higher the Debt Goes - The Higher Gold Goes.

Jim Sinclair 2007
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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Silver Explodes Higher - Up 3% on the Day
Silver Explodes Higher - Up 3% on the Day
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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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Central Bank Net Gold Purchases Totalled 39.8 tonnes in May - WGC
Central Bank Net Gold Purchases Totalled 39.8 tonnes in May - WGC
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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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Trump Plans to Cut US Troops in Germany by Half... Calls German payments to NATO 'Delinquent'
Trump Plans to Cut US Troops in Germany by Half... Calls German payments to NATO 'Delinquent'
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*** GOLD MARKET WIRE ***
*** GOLD MARKET WIRE ***
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Gold Market Wire

News, analysis and commentary for gold traders and investors

Silver Market Opening

Silver Hangs Tough

June 9, 2020 - Gold Market Wire - Yesterday's action provided a set-up for us in Silver and length was established. The trend line is in tact today and the market, although quiet, is still holding. We're not expecting fireworks, but have taken a risk/reward position defined by the breech of yesterday's downtrend and the continuation of the main trend line pictured below, in our morning chart.

a bullish formation developing?

Gold is lending a hand to the proceedings by staying above the horizontal support line of $1683 and also crossing the 50-day moving average. The chart shows a decent chance to rally, especially as the power down trend has been exceeded on the upside.

All in all the risk/reward is with the bulls. A calculated position and not just a coin flip. Horizontal support is where we would have to stop out if it is seriously challenged, but right now, we look ready to rally, even if gradually. The market has held nicely since last week's sell off.

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