Huge bullish news for gold: Treasury Announces Increased Sizes of Nominal Long-End Liquidity Support Buybacks Beginning September 9

Gold up over 2%. I mentioned the other day, large OI in GLD options starting at 410 strike, should get interesting. In addition, 200 day moving average should come into play if strikes start getting taken out.

https://home.treasury.gov/news/press-releases/sb0607

Also, please see our separate MAJOR ANNOUNCEMENT: WatchGold Is Opening Its Doors — Free Access for the Next Two Months. Lots going on in the precious-metals markets—let's see if gold and silver can build on this momentum.

This commentary is provided for educational purposes only and should not be considered investment advice.