Gold is moving towards the nearest resistance at $2445 – $2450.
The gold market sold off a couple of times in the course of the week, as we have seen a lot of value hunters out there willing to get involved in the gold markets.
The gold market has been strong for some time, but at this point in time, it is likely that we are going to see the occasional pullback. This so far at least has been an invitation to start buying gold again, as the world has given us multiple reasons to
Jim Wyckoff has spent over 25 years involved with the stock, financial and commodity markets. He was a financial journalist with the FWN newswire service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York.
Jim Wyckoff has spent over 25 years involved with the stock, financial and commodity markets. He was a financial journalist with the FWN newswire service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York.
Gold faces weekly decline amid Fed rate cut speculation. Resilient above 50-day MA, but vulnerable.
With gold prices hovering under $2,425, market sentiment shifts amid Fed rate cut speculation and escalating Middle East tensions.
Gold rallies to a three-day high of 2,426, breaking above the 20-Day MA, with potential resistance near 2,450, though consolidation may continue.
Jordan Finneseth is a Crypto Market Reporter for Kitco Crypto. Coming from a background in Psychology and Human Behavior, he began to focus his attention on the cryptocurrency space in early 2017 after noticing the rapid growth of this emerging market.
Ernest Hoffman is a Crypto and Market Reporter for Kitco News. He has over 15 years of experience as a writer, editor, broadcaster and producer for media, educational and cultural organizations.
Jim Wyckoff has spent over 25 years involved with the stock, financial and commodity markets. He was a financial journalist with the FWN newswire service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York.
Global gold-backed exchange-traded funds (ETFs) experienced their strongest month for more than two years in July, according to data from the World Gold Council (WGC).