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Gold Looking Good

Commentaries & Views

Once again it looks like the sellers of gold are throwing in the towel. After the spike higher a week ago, gold settled and sold off but was unable to break down through support. Monday gold jumped, looking like it wants to take out the recent highs.

Although gold was unable to breech the recent high, it is rallying again Tuesday morning and looks poised to break out again. With investors trying to handicap the Fed announcement, gold is seeing some buying activity as it prepares to make a run at $1,275.

With the miners moving higher, all signs point to the gold rush to continue. No matter what the Fed does, the action in gold should remain bullish. We are looking at dips as buying opportunities as long as gold remains above $1,235.

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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