17 thoughts on “CHART OF THE DAY

  1. MLMT

    I expect 1145-46 to be tagged and then sharp down. I expect Yellen to put an end to this bounce.

  2. Jay

    Glad I never believed in “hold and pray” . I will take profits when GDX hits around $17 and then I’m out.

  3. Bill in Tokyo

    JUST a reminder …

    The MONTHLY chart of gold is going down. As is the WEEKLY. And the DAILY.

    And, this from Mish Shedlock’s blog: “Goldman Sachs Group Inc.’s Jeffrey Currie says the worst is yet to come for gold, and that prices could fall below $1,000 an ounce for the first time since 2009. “The risks are clearly skewed to the downside,” Currie, the bank’s New York-based head of commodities research, said in a phone interview Tuesday.”



  4. Bob UK

    Just wondering whether the drop in China will result in more big sales of gold as people perhaps need to meet margin calls on losses in China?

  5. Stefan

    Goldman Sachs isn’t that a bank? I do not trust banks opinion regarding gold. Gold bottm is imminent 1 or 2weeks left only and 1033-1050 maybe but I think 1070 will hold. Option call open interest tomorrow and FOMC on Wednesday, so yes be a little bit careful for another 2-7days. The off to the races 🙂

  6. Crawford

    Right now you can see we are in a HUGE Descending triangle that has broken, so it looks like GOLD could go into the 900’s soon. Gold lost ground on Monday, moving closer to last week’s 5-1/2-year lows below $1,100 per ounce, with expectations for a near-term U.S. interest rate hike seen keeping momentum firmly with the bears.

    Once we hit the $900 level jump into the GDXJ.

  7. Dan

    Hawkish Fed this week and another gold tank job and I cut my losses on these trash miners. Got fooled by the bull trap today but still hanging on.

  8. Stefan

    No no no do not give up now, we are very very very close to a bottom!!!! Give it 1 or 2 weeks.

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