The recent sell-off in Gold for those following my ideas was due to massive 100:1 liquidity issues from equity losses (in margin accounts). As a result, highly liquid assets like utility stocks, Gold and Silver sold-off to cover for massive losses.
The Federal Reserve just recently announced an emergency 50bps cut with many areas around the world such as Australia, Europe, Singapore, China and Japan issuing more monetary easing.
The good news is the floor is in at the 1560-1580 that we saw in Gold and the 16.4-16.5 in Silver. Now we can focus on the 'real run' that we originally anticipated where Gold will run well over 1700 and Silver well over 20. The caveat is that Gold and Silver could surge well over these values depending on further rate cuts and the blossoming of the virus.
There will be quite a bit of volatility so its important not to get shaken out here. Algo bots will be buying and selling at certain levels but there will be overall, significantly more buying pressure.
- zSplit
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------ IMPORTANT UPDATE ------
According to analysis on options trading, many insiders have bet multi-millions of dollars are a large impending rally for Gold. The highest bet is a 100 million dollars on a huge Gold rally impending on a single account.
This is a very good sign. Don't miss the boat and short metals like other unintelligent people on here.
@A0260833927, Hey bud. Yes, at these current prices JNUG and NUGT will snap back sharply due to unwarranted liquidation of gold/silver to cover margin calls. I'm not a huge fan of UGLD in general as I believe mining stocks have significant room to run and a ton of catching up to do relative to spot price.
- zSplit
A0260833927
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@zSplit, Thank you for your response and knowledge... I bought and sold nugt/jnug 4 times today... didnt expect it go up 24%....