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Golden week

EagleEyeEagleEye Posts: 7,677 ✭✭✭✭✭
OK, it seems that the drop in gold on Monday was due to the strength of the dollar against the Pound. The Pound dropped due to the realization that there is going to be a "Hard Brexit". The sharp drop of the Pound on Monday may have been precipitated by a "fat finger" trade. The Pound is now at its lowest value ever. I can see that stocks could be hurt by Brexit, except that the rising Dollar helps British stocks too.



Also China had their "Golden Week", where everybody goes on holiday at once. Is that an influence? Will they buy gold on Monday.



Where is the fundamental problem that should make gold stay lower or go lower? Is it overvalued right now? I'd like to hear your thoughts.
Rick Snow, Eagle Eye Rare Coins, Inc.Check out my new web site:

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