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home / news releases / JGLD - Gold's Jobs-Friday Plunge

JGLD - Gold's Jobs-Friday Plunge

Amplify Pure Junior Gold Miners ETF
  • Gold’s sharp Jobs-Friday plunge was fueled by cascading gold-futures selling by speculators. Their collective upside bets were relatively high heading into that day, with total longs above the gold-futures-selling-overhang threshold.
  • So when gold started selling off overnight well ahead of that US jobs report, these traders were forced to liquidate leveraged longs en masse or face catastrophic losses.
  • That snowballing gold-futures selling quickly exhausted itself, enabling gold prices to stabilize this week. So gold’s young-upleg uptrend in place before that frenzied long liquidation should resume.

For further details see:

Gold's Jobs-Friday Plunge
Stock Information
Company Name: Amplify Pure Junior Gold Miners ETF
Stock Symbol: JGLD
Market: NYSE
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