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  • #GOLD down

#GOLD down

randholm
August 21, 2014 10:09 am / Published in Market Update

#GOLD down

FOMC minutes were more hawkish than gurus generally anticipated.  After a brief dip in the stock market on hawkish minutes, stock bulls dismissed the hawkishness by claiming that Yellen speech at Jackson Hole will be dovish and therefore ran the stocks right back up.

 

Gold has broken under the major support at $1283 – $1287.  As a full disclosure ZYX Short has a number of gold related positions that benefit from fall in gold prices.

 

Oil is attempting a mild rally from very oversold levels.

 

 

Tags, GOLD, GLD

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