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Gold Remains Resilient

Commentaries & Views

(Kitco News) - Gold has shown remarkable resilience in the face of a stronger dollar. Geopolitical tensions have created some support but the oil price surge may create an acceleration of inflation, within the context of the Fed now prepared to look at their inflation target in a symmetrical fashion. This may prove to be a head fake to the upside and we suggest waiting for confirmation on a close above the $1,322 level for an acceleration of momentum. Silver continues to be well bid and the silver/gold ratio is beginning to drop. Should gold break higher, we believe silver offers the best risk/reward play. Retail inflation data, should it spike, will also add to the momentum in the commodity space.

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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