Stocks And Precious Metal Charts - Gold Futures 50% Rally Leg Retracement

Gold and silver got hit today. 

The reason that was spread around on the wire service that this was because of optimism of an economic recovery because of the COVID vaccine was funny.

Especially in light of the reaction of the equity markets and VIX.

So gold fell intraday to a low that was almost exactly 50% retracement of the recent rally off bottom.

And settled around 38.2% on the close.

This is what I like to call a 'technical trade'. 

Big cap tech got hammered, even as Doordash IPO came in and soared on the first trade. 

Well, as I had noted previously, this is going to be light holiday trading dominated by the antics of a few major players. 

After their recent record near billion-dollar fine for manipulating the precious metal and bond markets, I would wonder if JPM is laying back on this one. 

Well, there are others ready with the will and the means to take the lead.

Funny how little conversation there is around monopolies, cartels, and the crying need for regulatory reform, other than to demolish it.

We had about 1/2" of snow today, but the public seemed to take it in stride.

As for all the rest of it, truly, men go mad in herds but come back to their senses slowly, and one at a time.

Have a pleasant evening. 

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Disclaimer: These are personal observations about the economy and the markets. In providing information, I hope this allows you to make your own decisions in an informed manner, even if it is from ...

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