Currently: Cash Looking to: Buy near 1,414
As of 11/8/19 close: 1,459.80
LAST WEEK: We suggested buying gold at 1503.25 with stops honored on a daily close below 1498.55 and
with a target of 1567.50.
UPDATE: Stops should have been honored on any longs initiated last week near 1,503.25. The strong US Dollar and the clear move of money out of safety and
into risk assets has brought a ton of pressure onto gold.
The weekly chart shown here tells us gold can drop to 1,411.50 1,428.80.
We would buy gold at 1,414 ideally with stops on a weekly close < 1,411 and with a target of 1,630.