Right now I see Gold being constant and Silver rallying, leading to a plunge in Gold/Silver ratio, which is largely along expected lines. Perhaps this is just the start of a larger trend.
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DislikedRight now gold looks like a decent buying opportunity. Although it just retraced from earlier highs, the ~1421 support level held up nicely. If that support holds I think we could see gold rally overnight. Support held up nicely. 15M chart: {image} Daily chart is looking like it's trying to test recent highs again: {image}Ignored
DislikedRight now Gold is swinging between 1417 and 1419. I am playing the swings and patiently awaiting opportunities on each end of that range. General direction today feels downward.Ignored
DislikedRight now Gold is swinging between 1417 and 1419. I am playing the swings and patiently awaiting opportunities on each end of that range. General direction today feels downward.Ignored
DislikedGold is in rally mode and looks primed to make new highs. Here's the daily chart with the red line at previous highs earlier this month. {image}Ignored
DislikedFED Williams: better to take preventative measures on rates than to wait for disaster to unfold This is giving a solid boost to gold right now. It might even trigger and overnight rally up to the 1440 levels.Ignored
DislikedI got this from a Bloomberg article not too long ago. It's useful when Fed members are speaking. {image}Ignored
Disliked{quote} Agreed. He's a voting member too. Williams has historically been somewhat of a centrist, but slightly hawkish. That could be adding some extra fuel here. Very surprising statements from him.Ignored
Disliked{quote} That's very useful, thanks for sharing! {quote} Yeah, exactly, this is the kind of thing i'd expect to hear from Bullard, and when he says it it usually doesn't have much impact... but when Williams said it it should have a much greater impact simply because it differs from his general stance on monetary policy. And we're in a time of great uncertainty Just look at this... the markets are pricing in a 60% chance for a 50bps rate cut... which doesn't sound quite right to me... that's why if we see a 25bps rate cut we might even see gold fall...Ignored
DislikedJust look at this... the markets are pricing in a 60% chance for a 50bps rate cut... which doesn't sound quite right to me... that's why if we see a 25bps rate cut we might even see gold fall on the release of such data.Ignored