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Let The Events Begin; Gold Awaits

Commentaries & Views

The next seven days can be huge for equities, metals and commodities. It all starts with the G-7, followed by the North Korean summit on Tuesday, the Fed on Wednesday and the grand finale -- Super Mario and the ECB -- on Thursday.

Any one of these events could have a dramatic effect on all markets, especially the metals. The equities have already broken out to the upside, especially the Russell and the Nasdaq, making all-time new highs. Most commodities are off their lows although were selling off the last few days.

That leaves us with gold, a market that has been in consolidation at the bottom end of the range for weeks. Gold, after peaking in April, has been under pressure, leading us to believe the next move is higher. We are looking to buy but will wait for a solid footprint to confirm our opinion.

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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