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gold and silver fall heavily as uk enters a technical recession
on aug 11 , 2020 , gold and silver fell heavily as there was profit taking … technically, they were overbought – the stochastic oscillator was around 90 ( anything over 80 indicates an overbought situation )
another news was a potential corona-virus vaccine coming out of russia – due to which also people existed the safe heaven positions of gold and silver and jumped into equities.
in other news , the united kingdom entered a technical recession ( on aug 12 2020 ) , defined as two successive quarters of negative growth.
for the previous quarter ( april – july ) , the fall in growth was more than 20 % , probably the worst quarter since the great depression of the 1929 – 1930..
silver and gold started moving back up on this news …