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Gold Makes Another Higher Low

Commentaries & Views

Gold continues in the consolidation phase and appears to have made another higher low, indicating the bottoms are in and the next big move should be higher. Gold has been consolidating for about three weeks and is now pushing to the top end again.

This phase of the market is the most challenging for traders and investors because of the market indecision and many false starts. The consolidation phase should be the confusion phase because the strong hands keep rotating between buyers and sellers.

Eventually this phase will end, and the markets will break out one way or the other. Indications are the move will be up. The key here is to have the patience to wait until gold breaks out and gives a solid footprint for direction. For now, it’s only confusion.

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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