Gold Market Wire
News, analysis and commentary for gold traders and investors
Gold Market Update
Silver Reverses as Gold Goes Flat
July 6, 2021 - (Gold Market Wire) - The market was looking fine, if Silver was a bit steep on the uptake, and the sell-off came swift and harsh - for Silver, at least. A vertical power trend never holds, and we thought a retracement could be in the offing, but we got a little more than we bargained for. Silver, off as much as 1.4% on the day - but Gold is trading unch.
A tough one, but perhaps not totally unexpected. These thin summer days make a playful pen for COT and we are inclined to see it as such.
Of course, we really will need to see $25.80 hold. So far we are willing to see this as a back and fill. The weaker than expected ISM data, and its effect is, if anything, to be faded. Really, perhaps its time to start a new fund called "News Fader" ETF, that simply fades minor news events.