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Gold Prices Continue In Tight Range

Commentaries & Views

(Kitco News) - Gold continues to move in a narrow range and traders continue to look for a break above the $1,322 level on a close basis. The dollar’s recent strength appears to be mitigating, which may be the catalyst to push gold through this resistance area, but a clear break above the 1.20 euro/dollar trade will likely be needed. On the bearish side, tensions with China over trade may be softening, which should continue to push capital into the equity space. Another positive development is the return of the retail buyer to the physical space. To be more specific, retail selling of physical metal has slowed considerably and investors are beginning to buy physical investment bars and coins, especially where dealers are offering heavy discounts, One example is the Krugerrand which can be picked up on the retail market for as little as a $10 premium to spot.

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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