Gold Spikes Down to $1650 on Multiple Signals
I’m watching the gold market right now and $1650 has been reached this morning.Â There is still nearly two full sessions until options expiration tomorrow so this current downdraft has a lot of potential for a major wipe out.Â If you are long gold with leverage you are an idiot.Â Jim Sinclair has been telling you this for years and yet you think you can outsmart those with billions and all of the power?Â What do I think is happening?Â Do you care?Â Here it is:
- Gold has been inversely trading against the Euro since the Presidential election.Â Money is being repatriated back to the Euro after the massive outflows from earlier this year.Â Huge liquidations are happening there
- Those that bought the dip to the $1500′s are sitting on huge capital gains that the fiscal cliff threatens to tax into oblivion — selling pressure there.
- QE 4′s unsterilized bond-buying program is not enough to stave off the effects of the fiscal cliff in the minds of bond traders — TIPS yields have risen sharply since the QE4 announcement.Â Gold rises and falls on inflation expectations
- Options expiration is tomorrow and any opportunity to punish longs out of this market that will rise sharply in 2013 will be taken by the sociopaths running the markets.
If you have money on the sidelines and you are interested now would be a good time to buy gold.Â It’s not like the demand is not there in the physical market.Â It is.Â The futures market is simply a mess right now.
Currency Articles - Apr 24, 2015 10:07 - 0 Comments
More In Currency Articles
Gold and Oil News - Oct 7, 2014 17:44 - 0 Comments
More In Gold and Oil News
- Gold Falls But Higher Prices May Be On The Horizon
- Gold Prices Spike Higher On Increased Israel Tension
Shares and Markets - May 1, 2014 10:50 - 0 Comments
More In Shares and Markets
- Glaxosmithkline Share Price Rebound Halts On Slower Sales
- Royal Mail Share Price Will Not Be Investigated