Gold & Silver Monkeyhammered Below Critical Support

Gold prices are down almost 2% this morning – the biggest drop since Nov 2016, breaking below the key $1300 level, down to 6-month lows.

Silver is even worse – crashing 4%, back below $17 after a huge week of outperformance.

In fact Gold has fallen to the same level it was at right before its spiked on Trump’s election…

Gold & Silver Monkeyhammered Below Critical Support

Having traded around $1300 for a month, heavy volume broke it below 2018’s lows and $1300 support…

Gold & Silver Monkeyhammered Below Critical Support

What is most interesting is the last few days have seen Yuan and Gold trading very much in sync, but as yesterday’s trade-war headlines started to strike, Yuan tumbled – but gold held in there… until just now!

Gold & Silver Monkeyhammered Below Critical Support

Silver is getting slammed too – back below $17 on heavy volume…

Gold & Silver Monkeyhammered Below Critical Support

Also of note is the fact that Gold/Silver just exploded higher…

Gold & Silver Monkeyhammered Below Critical Support

After tagging its lowest level since Thanksgiving

Gold & Silver Monkeyhammered Below Critical Support

Read on ZH

Share:

Author: HEDGE

Hedge Accordingly was founded ahead of the global financial crisis in January of 2008, with the goal of providing our readers our unique take on The Latest News on Wall Street, Stocks, #Politics and Business news. Hedge Accordingly produces both original, and aggregated #Wallst news content from top publishers around the world. We curate aggregated content covering the latest news on politics, stocks, wall street, and the tech industry. We also provide free stock charting, quotes and a bitcoin, forex and currency exchange. Learn More About HEDGEaccordingly.com