Gold Spikes On Massive Volume After Trump's Fed Chair Comments

The Dollar index dropped and gold jumped as President Trump told reporters during a meeting with the prime minister of Singapore that he was "very very close" to a decision on who would be the next chair(person) of The Fed...

Jerome Powell continues to be the front-runner...

In a span of five minutes, 18,792 gold contracts, each representing 100 ounces of the metal, traded on the Comex at around 11:55 a.m. in New York - this represents around $2.4 billion notional of sudden buying-panic...

 

Pushing the precious metal above its 100DMA...