Kitco News' contributed commentary features articles and opinions from some of the top experts in the gold industry.
In my opinion, the daily gold chart is looking increasingly ripe for a more noticeable correction. If it materializes, this could be the dip sidelined bulls have been waiting for. For me, the most likely zone for price to find support is the yellow rectangle shown below.The FED will not surprise markets; that is - the overwhelming probability is rates will stay where they are today.
I would speculate that if gold is looking weak, then the counterintuitive narrative for a downward price move in gold is a less hawkish sounding Powell – That would also probably be stock market positive.Follow J_GidaroDasilva [email protected] www.kitco.com
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