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Commodities Briefing - Categorized | Bullion/Gold, Market Moves more

Is gold getting ready to give back its gains?

Posted on 04 February 2014

Straight away let’s acknowledge two things: 1) Gold has made a handsome start to the year, closing out January +3.4%, trading above the new year’s eve low by as much as +8.4%, and having now recorded its fifth consecutive weekly “higher-high” price; 2) Gold at least technically looks poised to pull back, and as one study herein suggests, perhaps give back all of the young year’s gains.
How’s that for an opening, eh? Notably over the last two weeks we’ve seen Gold zoom along the runway and then climb high into the sky, indeed ascending up through 1279 yesterday (Friday) before gliding lower to settle the week at 1246. Again by the technicals, Gold may get a bit fraught near-term by turbulence before powering onto higher levels. Here we go………………………………………..Full Article: Source

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VRS - who has written 38584 posts on Opalesque Commodities Briefing.


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