Skip to main content

Gold has quite a marked turn around now today

Earlier today, as reported here Gold charged above its most recent highs and accelerated on the upside. As already noted that move peaked at $2,200.18 and since then the price has been falling back this afternoon. The drop back below $2,181 probably forced many of those that joined the breakout move higher to abandon ship. As to who started the ball rolling on the topside is unclear, but it looks and smells like a decent sized order and heavy volume did the trick. As to who is behind such orders recently, we look towards central bank players if seeking a protagonist. So, as the dollar rebounds a bit more now Gold has remained some $25 below its earlier high, currently trading at $2,174.90

Ready to Get Started?

Start here. Join 2.9M Libertex users around the world!