Dow tumbles over 1,800 points but this sums up the trading in the gold market today.
Witching Hour
June 11 (King World News) – Fred Hickey: Fascinating day ahead. Big pre-market futures sell-off -800 Dow points. Ridiculously high bullish sentiment set bulls up for a tumble – but will it accelerate or rebound? Gold down – but if it rallies – will it break above $1750 because if it does – then gold could be off to the races.
Major gold miners (NEM, GOLD, AEM) rising this morning (in a horrible tape) increases the likelihood gold bears are losing control (and the seasonal gold correction is over). We’ll know more once we get out of the 10AM -11AM witching hour (gold often hit by traders at that time).
Hickey’s Warning Was Spot On: Witching Hour+
Takes Gold Market Down Along With Stocks
Strange Action In Gold
***Also Released: Very Strange Action In The Gold Market CLICK HERE.
***To listen to Rob Arnott discuss what he expects to see for the rest of 2020 in global markets click here or on the image below.
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