Gold's new price base keeps record highs within reach, says VanEck gold price levels
Gold has formed a new base at the $1,900 an ounce level, and if that continues to hold, record highs will be within reach, according to VanEck's latest analysis.
The all-time highs are within reach for gold as the Federal Reserve halts its most aggressive tightening cycle in decades. May was a promising month for gold as the metal attempted to test record highs, but market optimism ended up weighing on sentiment. Since then, gold has been resilient, holding above $1,950 an ounce. At the time of writing, August Comex gold futures were trading at $1,970.10, flat on the day.
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