After the Fed's 0.50% rate cut, #Gold remains strong.

bit.ly/MasterMetalsCharts


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MasterMetals
@MasterMetals

#Gold's Slump Unlikely to Signal End of Rally

We've been here before.  In 2008 Gold dropped before marching higher to record $1920/oz three years later.

Gold fell a fifth in 2008, on its way to a record high.

Gold's Swoon Echoes Financial Crisis Blip

The conditions are still there for an extended rally.

Clara Ferreira MarquesMarch 2, 2020, 8:21 AM GMT+1

In times of coronavirus panic, even havens can be unreliable.

Gold closed off February on a tarnished note, ending last week with its steepest daily decline since 2013. As financial markets panicked over the spread of the pneumonia-like illness, stocks tumbled and dragged gold and other precious metals lower. That's a rare phenomenon for a metal that tends to shine brighter when everything else looks gloomy. It will also be a brief one.

Back in 2008, spot gold fell by more than a quarter between July and late October, before embarking on an unprecedented run toward $1,900 an ounce, once global rate cuts began in earnest.

#Gold recovering from Friday’s sell-off this AM. #MasterMetals #Charts $GLD

#Gold trading Back above $1600/oz.

bit.ly/MasterMetalsCharts … $GLD
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MasterMetals
@MasterMetals