“The way gold used to trade!”
Even with Wednesday’s & Thursday’s increased volatility, gold still ends the
week poorly … looking at the chart below, there isn’t much to cheer about when
it comes to gold.
click to enlarge ALL
Pretty much everything across the board on Friday got “monkey hammered”,
and while the volatility continues unabated in the stock indices, gold barely
moves in New York … “what happens when these other markets slow down,
what happens to gold then? … if it’s slow now, what will that disastrous scenario
look like”? … fortunately, 2019 is shaping up to be a tumultuous year, filled
with volatility, and I’d be surprised, if at some point, gold doesn’t eventually
end up joining the party, cuz with the FED in completely hopeless mode, it
should give a push to gold going higher.
Tomorrow sees Christmas Eve, and unless something dramatic happens to
shove gold out of its lethargy, I’d be shocked to see any more movement past
about 10 AM EST, with everything closing early at 1:30 PM EST. I’ll post
tomorrow, take Christmas Day off, and then be back Wednesday. We’ll see
how tomorrow develops, but I’m not looking for much.
Until tomorrow mi amigos … Onward & Upward!!
Have a great rest of your weekend everybody!!
-vegas
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