FLASH GAGE – Gold Blows Thru Support Levels

The price of gold blowing thru all support levels this morning as the U.S. Dollar and Treasury yields explode to the upside.

At the time of this report, the Ten-Year Treasury bond is approaching 3.06 percent, that’s a big 5 handle move to the upside and the U.S. Dollar is also surging higher.

New support levels in the price of Gold are now $ 1288.00.

At this point I expect that all the stops were triggered as we sold off and we expect some buying interest to appear as some traders try to bottom pick in an oversold market.

Have a wonderful Tuesday.

Disclaimer: This editorial has been prepared by Walter Pehowich of Dillon Gage Metals for information and thought-provoking purposes only and does not purport to predict or forecast actual results. This editorial opinion is not to be construed as investment advice or as a recommendation regarding any particular security, commodity or course of action. Opinions expressed herein cannot be attributable to Dillon Gage. Reasonable people may disagree about the events discussed or opinions expressed herein. In the event any of the assumptions used herein do not come to fruition, results are likely to vary substantially. It is not a solicitation or advice to make any exchange in commodities, securities or other financial instruments. No part of this editorial may be reproduced in any manner, in whole or in part, without the prior written permission of Dillon Gage Metals. Dillon Gage Metals shall not have any liability for any damages of any kind whatsoever relating to this editorial. You should consult your advisers with respect to these areas. By posting this editorial, you acknowledge, understand and accept this disclaimer.