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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Gold Makes Its Run to $2,000 an ounce...Target in Sight
Gold Makes Its Run to $2,000 an ounce...Target in Sight
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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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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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*** GOLD MARKET WIRE ***
*** GOLD MARKET WIRE ***
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Gold Market Wire

News, analysis and commentary for gold traders and investors

Gold Market Update

The Next Challenge for Gold

June 4, 2020 - (Gold Market Wire) - Gold has bounced near the horizontal support and snapped back nicely. It's still too early to tell if it's out of the woods yet, and we are not inclined to chase the market here. The chart shows us the challenge ahead.

the first hurdle.

Rather than chase, we are more inclined to see Gold clear the "nemesis" of $1748, and settle down, before establishing the length that set us up for the run at the record high at $1921. We are convinced that Gold is preparing to do just that, and that will get there - but we could see solid action to the downside before that. In fact, such action might even increase the chances of Gold setting a new record. Big shake-outs precede big rallies. The challenge of the record high is likely coming in the next 2 years, but the timing for it is the key. It could be in a few weeks, or the end of 2021. We need to take it a step at a time. Of course, core positions should be held. No doubt, Gold is the place to be these days, but trading it still demands patience.

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