Gold has been in a great range and even after the rate cut, Gold managed to sell off but still hold in the range posted in my chart. There has been a recent news story on 3 JP Morgan employees manipulating the price of gold and silver. This will only show the true potential in gold in the coming days and this rate cut consolidates and gold gets that appreciation it deserves. The Feds are only cutting rates to hold this bubble we seem to be in and keep allowing central banks to keep artificially suppressing rates. They can only hold that for so long until rates start crashing again. Keep an eye out for gold and silver because I know I am and will be an epic move. Soo much potential in precious metals.
@amir110000, appreciate it! That was a nice pop in gold
AmirAhmadpour
⋅
Monday will be 1550
HaroldW
⋅
In agreement with you analogy for AU. Much more upside than downside and soon too.
HRoark64
⋅
Nice channel there. I agree it’s held up well despite paper market rigging. Don’t over commit though. 2008 chart shows everything took a haircut before the Fed threw a QE lifeline.