Discussion in 'Gold' started by maverick, Aug 11, 2020.
What happened overnight?
Down by $150 AUD !
It (and silver) had moved up too high, too quickly. Bull runs need the odd retracement in order to build the next level higher. The vaccine news from Russia was probably the trigger it had been waiting for.
For people like me who’ve been patiently waiting for this, today will be a good buying day
Buy 1/2-1oz of gold every time it drops $100 AUD or so and enjoy the rollercoaster ride. Please keep your arms and legs inside the carriage at all times!
down you come baby. i have another purchase to make.
The spot price drops on the charts but can you actually buy physical metal today at the current lower price if you want it? That’s the question to answer....
I'll like to see it get down to about $1600 USD. Glad i sold a chunk of my gold stocks the other week.
And the AUD might stay above 70???.
Whole bunch of stuff went down (crypto, some equity markets) - people taking profits. Reading some stock forums there's a lot of people buying/shorting silver options/futures just jumping on the bandwagon, people who will sell or switch positions just from hearing a rustle in the leaves.
Nothing goes straight up.
On the other hand everything Trumpty and the fed are doing are great for gold.
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