Midnight to 6am - Overnight Spot Watchers Spot...

I know I was dismissive even people were getting scared after a 40 cent drop but a dollar? That's serious movement. Strange though given that the US markets aren't doing do good AND the fed didn't raise rates. Gold down over $20? Did I miss some news?
 
I would say that the demand to push the price higher simply isn't there. The Swiss depegging caught everyone with their pants down and the Greek elections are over but the markets have now settled, it's kind of like ok now what? If prices close below the last major support levels $17.50/$1250 it wouldn't surprise me if we see new lows. I'll just go back to shorting them until next time they feel like rallying.
 
This much this fast though? On news that there ISN'T a rate hike? I could see a downturn in general weakness but giving back $20+/$1 in a night? There has so be some news were missing.

I'm glad I got some dollars though.
 
I think they are pulling back from long term trend resistance and the long term trend is still down......

Im glad i bought a tone of puts 2 days ago on the SLV..
 
The daily Elliott wave pattern suggests the SLV is going to $13 in the next 5 weeks???

we will get there by the end of the week at this rate... Its not just PM's Coper is also down 1.5% and falling
 
It sucks, I have 1.5oz au I was going to scrap that's still in the mail. Who knows where this stops but I'm already out $100. I got it at a good price but it's the first gold I've bought in ages and I should have known I would send the global PM markets until a tailspin when I bought it.
I'll be ok if the dollar can shed another cent and keep $100 aud. At this rate though $1250 usd is looming shaky as all get out.
 
With the dollar the way it is though it won't take much of a reversal for us to be way up. At some point people are going to jump back in.

I'm glad I bought most of my silver even the spot was around $19aud give or take. Sliver will have to drop to $15 usd before I'm in too much trouble. The gold I recently bought is buffing me though.

I certainly don't feel so bad about buying collectible sovereigns instead of bullion lately though. After a little bargain hunting I think I'm probably safely ahead in those even if the spot drops another $100. My 2oz s2 tigers are a millstone around my neck though.
 
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