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Gold Catches A Bid

Commentaries & Views

(Kitco News) - Gold opened the new quarter on renewed buying interest. Gold held our $1,322 level going into the long weekend and aggressive buying emerged at the Asian open overnight. The Chinese have shot back and leveled tariffs on 128  U.S. products, which reignited the possibility of a trade war between the world’s two largest economies. The U.S. equity market continues to struggle and the U.S. dollar is showing signs of wear. Unless these scenarios reverse, it remains unlikely the Fed will be as aggressive, as analysts are now predicting. Look for gold to break above the $1,337 level for further momentum. Support appears around the $1,325 area. It is difficult not to be bullish in the current panorama.

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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