The last line of support near 91, nothing below until 88 area if breaks.
Gold did not stay under $1,800 for long, silver very strong. Market is watching what the prospects are of a relief bill.
Chinese retail gold demand and Chinese retail silver demand (jewelry and other forms) should beat the best of forecast.
In the world of private money (gold and crypto), elections also take place… at major support and resistance.
Gold moved off the lower daily Bollinger Band support. Will Gold get out of this area and turn bullish?
Silver shortage? Famous Buyers? Big Transactions? Let’s look closely at the data.
To this end, while a retracement as deep as the 3050SPX region has become much less likely, I would still like to see a higher degree retracement back to the 3330-3450SPX region in the coming weeks.
Money mangers short covering here at month's end.
Silver would have crashed a lot more but was saved by the best month in a decade for industrial metals. Copper and zinc were the leaders. The untouchable aluminum also rose.
The largest gold-backed ETF, the SPDR Gold Trust, is headed for its largest monthly outflow since 2017. The ETF has already lost over 50 tons of bullion so far in November.