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Gold doesn’t grind lower.
It sat there on Monday, hung around $5,100 for a while and then… It just didn’t hold.
At some point in the afternoon, it felt like the market just said, “Screw it,” and dumped it.
I was in a class for about an hour and by the time I looked back up, it was selling off.
That’s how these moves tend to happen — not with a slow warning or a clean signal, but all at once while you’re doing something else.
One minute price is holding. The next minute it isn’t.
Gold Just Lets Go
What stands out isn’t the size of the move. It’s the timing.
Gold hangs in there, doesn’t give much and then finally cracks. There isn’t a dramatic buildup. It just rolls over while no one’s watching tick by tick.
When I checked back in, the reaction was simple — whoa. That pretty much sums it up.
Gold pulls back and silver is right there with it.
No mystery, no story attached.
Just a market that decided it’s done going higher for now.
That kind of action matters. When something holds a level for a while and then gives it up in one shot, you notice it.
You don’t need to overthink it. You just recognize that the tone changes.
Silver Doesn’t Exactly Behave Either
Silver is even more obvious.
The iShares Silver Trust (SLV) busts through $100 earlier in the day, trades up around $104 and then turns around and comes right back down to $98. That’s not subtle movement.
Those are big swings in a short window.
Up hard, down hard, all in the same session. It’s the kind of thing that makes you stop and say “This market needs to chill out.”
When you see silver do that, you don’t need a long explanation.
It simply tells you volatility is alive and well.
Prices aren’t creeping. They’re jumping and snapping back just as fast.
That’s really the takeaway here.
Gold and silver both pull back, and they don’t do it politely.
They do it the way these markets tend to do it when they finally decide they’ve had enough — fast, noisy and without much warning.
Geof Smith
Geof Smith Trading
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*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk.
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