News, analysis and commentary for gold traders and investors

"Be Right - Sit Tight"

Jesse Livermore
Gold Market Wire... Gold Market Wire... Gold Market Wire
Gold Market Wire... Gold Market Wire... Gold Market Wire
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Gold Bounces Off 100 Day Moving Average
Gold Bounces Off 100 Day Moving Average
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London Book-Makers have Trump and Biden at Similar Odds
London Book-Makers have Trump and Biden at Similar Odds
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Covid-19 Cases Climb as Deaths Dwindle
Covid-19 Cases Climb as Deaths Dwindle
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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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*** GOLD MARKET WIRE ***
*** GOLD MARKET WIRE ***
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Gold Market Wire

News, analysis and commentary for gold traders and investors

Silver Market Update

Silver's Uptrend Gives Way... NASDAQ Called 3% Lower

September 8, 2020 - (Gold Market Wire) - Silver's uptrend has given way now and its sell-off is accelerating. We've bounced off the horizontal support, but any idea of recovery is highly tentative now. The chart tells the story.

Silver's broken uptrend...and horizontal support (in red)

There's no big surprise as to why. With the US market coming back from the Labor Day weekend, and the country edging towards the most contentious US Presidential election in a century, the bears are out in force. As we warned after our market exit last week, late August, September and October have a bad history in equity markets, as most traders are well aware, but forget all too often when carried away by euphoria.

Those who took up our idea for a gambler's spec short in Gold have done well. We're in the money about 1%, but that should accelerate with the New York opening. We see no reason to close out yet, and are happy to let the spec ride. The stock market looks ready to get ugly today, Get set for a fairly scary/exciting ride....depending on your market disposition.

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