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Tickets Please For The Gold Roller Coaster

Commentaries & Views

Like a ride at the carnival, gold is making traders and investors dizzy while it spins in place. The last few days, gold has seen rallies and sell-offs, only to end within the same range it has been trading in for weeks.

Here we are again testing the $1,280 level, testing the nerves and patience of investors and traders. The spinning wheel rolls on, keeping everyone on their toes, whether it’s news out of China, the Fed or any other source of market-moving information.

At the end of the day, nothing has changed. The technical pattern of gold is the same as it has been for weeks -- trending higher in consolidation but testing the will of investors. For now our message remains the same -- bullish until we close under $1,280 for a couple of days in a row.

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.