Currently: Cash Looking to: Short @ 2,075
As of 8/7/20 close: 2,028
LAST WEEK: We suggested shorting at 2,012.50 with stops on a close above 2,015 and with a target of 1,809.40.
UPDATE: Gold futures traded through the next projected target of 2,012.50 last week. However, we are of the opinion that this is just an overshoot of a monthly target and that we will still see the pullback to either 1,809.40 or 1,674 play out. If you shorted gold off of last weeks report, you should have been stopped out. Try re-shorting gold between 2,075 and 2,089 with stops honored on a close above 2,089.20 and with a target for covering down at 1,809.50. No new longs until 1,679, though at least until further notice.