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Gold Breaks Above $1,400

Tyler Durden's picture





 

It seems the crossing of the Maginot 100-day moving average combined with Jackson Hole chatter and the dismal new home sales data has set the precious metals ablaze once again. For the first time since early June, gold has crossed the psychological $1,400 level (up 18.5% from its 6/18 lows). We suspect the still-unprecedented short-interest in COMEX gold futures may well be feeling more heat here (having fallen 40% in the last 5 weeks)...


 

While COMEX Gold has fallen over 40% from its highs, it remains at pretty much all-time historical highs of the last 20 years...

 

Charts: Bloomberg

 


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