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Gold: All Dressed Up And Nowhere To Go

Commentaries & Views

Gold continues to sit in this consolidation range with false starts up and down. For almost a month, gold gas been trading is less than a 2% range and appears to be all dressed up with nowhere to go.

This pattern will break out in one direction or the other. Next week there are three main events that could move the metals. On Tuesday, President Trump meets with North Korea, Wednesday the Fed announces its decision on interest rates, and Thursday the ECB makes an announcement.

Any one of these events can move gold out of this range. Most likely it will be the Fed or ECB. Because the Fed and ECB have a direct interest rates and monetary policy, they should have the biggest effect. Until then, gold is all dressed up with no place to go.

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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