SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Dino's Bar & Grill
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Goose94 who wrote (53678)1/22/2019 3:39:42 PM
From: Goose94Read Replies (1) of 203567
 
Gold: Down to Start Week

Gold prices are trading down on Tuesday morning. This slide stems from selling pressure due to near-term charts showing deterioration in both gold and silver. This trend is not exclusive to Tuesday morning, as the metals have been under pressure the last few days and are now testing the support level of $1280.

Investors should pay attention to money flow as the day goes on. The housing report came out this morning and showed that existing home sales fell 6.4% in December. This report greatly missed expectations as the season adjusted rate hit 4.99 million units, way down from the expected 5.27 million. This marks the slowest pace since March 2016 and gives further explanation why gold is down .11% today. The crude oil market, which as we all know had a horrific year in 2018, continues its slip into Tuesday and this slip has further affected the metals market. It seems like nothing can go right for gold today.

Taking this into account RJO Futures Market Strategist Phillip Streible said, “gold is under pressure today, practicing a risk-off sentiment would be the way to go”.

We’ll keep watching gold as the day goes on, but right now it does not look good.

Gold Feb '19 Daily Chart



RJOF Editorial Team
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News