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Gold Price Trying To Consolidate

Commentaries & Views

(Kitco News) - Gold remains mired in a tight range as the market awaits fresh input. This week's employment report and the Fed meeting next week will likely create the catalyst for a break into new levels. Gold remains resilient in the face of a stable dollar and some signs of success with the administration's fiscal policies. The shadow of the Mueller investigation and tensions with North Korea are acting as counter measures against the soaring equity markets and prospects of Fed tightening. The larger range for gold remains $1,265 - $1,297 but a micro band has developed at $1,272 - $1,279. Silver is approaching 79:1 against gold on the ratio and subsequent valuations at this level have developed into a silver rally. We suggest it may be safer to play the ratio at 79:1, with an exit target of 75:1.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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