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Gold is Pulling Ahead in This Tug-of-War

Commentaries & Views

Today’s chart compares the price of gold to the S&P 500 index.   Since bottoming in December, gold has moved into the lead. The supporting indicators at the top and bottom are positive.  The blue arrow points to the breakout point at the 200DMA – a breakout that is currently being tested.  As long as this four month old channel remains intact the trend favors gold over stocks.  

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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