Gold Down Again; Make It Stop
Gold is lower again this morning.Some believe the trade wars are influencing the precious metals, which could bean underlying reason. However, markets really don't care about the news, tradewars or anything else. They are driven by human emotion.
Gold and other markets don'ttrade by themselves; humans make the trade. Many will argue that high-frequencyalgorithm trades control price, but the algos are written by people and reactaccordingly.
For now, gold wants to go lowerand all the reasons we can find that it shouldn't have influence on the outcomeuntil buyers return to the market. We are looking to be buyers but not untilthe sellers stop selling. $1,240 is the next level we will look to be potentialbuyers. For now, we watch.
Contributing tokitco.com
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Bubba@bubbatrading.com www.bubbatrading.com/ Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.