INVESTORS REJOICE MORE PEOPLE LOSING JOBS AS RATE CUT FEVER GRIPS, $4000 GOLD BECOMES A MAGNET
By Nigam Arora
To gain an edge, this is what you need to know today.
Gold Magnet
Please click here for a chart of gold ETF (GLD).
Note the following:
- The chart shows that the recent breakout above zone 2 (support) was successful.
- The chart shows that gold is now in zone 1 (resistance).
- Sentiment on gold is now extremely positive. Momo gurus with no prior record on gold are now jumping in pretending to be gold experts and urging their followers to aggressively buy gold. Historically, this is a common behavior of momo gurus. In 2011, after missing the gold rally, from $600 to $1800 momo gurus also jumped in pretending to be gold experts urging their followers to buy gold.
September 12, 2025