News, analysis and commentary for gold traders and investors

"Be Right - Sit Tight"

Jesse Livermore
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US Bans American Banks from Purchasing Russian Sovereign Debt
US Bans American Banks from Purchasing Russian Sovereign Debt
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Gold Market Wire

News, analysis and commentary for gold traders and investors

Monetary Mayhem

US Jobless Claims Hit US Dollar - Propel Gold Higher

March 26, 2020 - (Gold Market Wire) – A weaker US Dollar is propelling Gold higher in early US trade, as over 3 million Americans file jobless claims. The Dollar is now a full percent lower against the Euro and the British Pound. That move is giving Gold a tailwind. April COMEX futures have touched a high of $1670. Spot is roughly 30 cents under.

The 30 minute chart we used earlier:

Above is the 30 minute chart.

The length we took in our early post is paying off and we continue to hold it.

Pulling back to the daily chart we can see the place where we might take some profit.

resistance around $1645. just under might be a good place to take some profit
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