GOLD TRADE ALERT (1:30 pm EDST)
Gold (and silver) prices are plunging today (for some reason some internet spot price charts are not showing this), and it is highly unlikely gold will close above $1490 today, hence our stop loss has been triggered and we will sell our long position in gold immediately with a small loss. At the time of this writing gold is around $1470. It appears that we were a little too early in judging the end (and bottom) of the current medium-term cycle as it is still forming. We will now stand aside and wait for that final bottom to buy both metals (that could come as early as next week). Selling my long position in gold now.
Gold (and silver) prices are plunging today (for some reason some internet spot price charts are not showing this), and it is highly unlikely gold will close above $1490 today, hence our stop loss has been triggered and we will sell our long position in gold immediately with a small loss. At the time of this writing gold is around $1470. It appears that we were a little too early in judging the end (and bottom) of the current medium-term cycle as it is still forming. We will now stand aside and wait for that final bottom to buy both metals (that could come as early as next week). Selling my long position in gold now.
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