Even in our digital age, the wisdom of the past still applies. Today’s gold price news tidbit: “The hardest part is the waiting.” Legendary trader Jesse Livermore wrote that in his famous book “Reminisces Of A Stock Operator”back in 1923, vastly pre-dating rocker Tom Petty’s pop hit. And it sure applies to today’s gold market. International gold prices rose from 1210 to 1270 over the last 17 days.
In the last 3 days the rise seems to have petered out, with gold bumping along in the 1265-1270 range. Let’s face it, a 5-point range against a 12-hundred point price isn’t much of a change. But here, at these “levels” as Jesse himself called them, is where fortunes can be made or broken.