A quick observation on recent gold market action from analyst Fred Hickey

Fred Hickey/The High Tech Strategist

photo image of stack of American gold eagle coins

“They move around prices in the short run, but long-term they will not affect where gold & silver are heading (decidedly higher). And when they drive prices too low, that provides opportunity. When they’re instrumental in pushing gold to overbought – that’s an opportunity tooCan be frustrating to see gold (& silver) rally all night, only to be bashed down $20+ as soon as NY futures trading opens. These levered traders/computers push price around on correlations (today it’s rising bond yields). But remember, it cuts both ways. They also push prices up.”

USAGOLD note:  What goes around, comes around ……

Repost from 1-15-2021

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