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Gold Continues To Shine As 2018 Begins

Commentaries & Views

(Kitco News) - Gold continues to find buying interest on the back of continued dollar weakness and growing geopolitical rhetoric from North Korea and Iran. An uptick in manufacturing demand out of China continues to help the industrial metals, and the current cold snap in the U.S. Northeast has helped maintain oil above $60. Technically, gold looks healthy and a break to the $1,322 level is possible, but the recent run is vulnerable to a correction. The $1,302 level should provide support but the key to continued momentum remains dollar weakness. The euro has broken above the 1.20 euro/dollar level and a serious correction in gold will likely not occur until this trend reverses.

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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