Gold rallies to the highs of the day

Gold bounces right back

BTFD is a gold trade now.

That’s two big slumps in gold in the past week or so that have been bought. That’s the kind of price action that will condition market participants to continue to buy dips.

There’s some two-way price action with this rip quickly sold $8 back down in short order. If it can get above $1700, I think it’s going to run to $2000 in a hurry.