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The Hightower Report

The Hightower Report

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Corrective action not a change of trend Yet!

(Kitco commentary) - What a difference 24 hours makes, as the gold market this morning is reportedly trading lower off less concern for the Omicron breakout.

The bias is up but momentum is anemic

(Kitco commentary) - With the February gold contract forging a five-day high in the early going today and approaching the 200-day moving average at $1796.15, the bull camp has a foothold. Prices are tracking higher despite weaker Chinese gold prices overnight.

The bias remains up more global inflation readings overnight

(Kitco commentary) - With a series of hot inflation readings overnight from the UK and the Euro zone, the strengthening dollar has not prevented gold and silver from tracking higher in the early action.

Gold and silver have premium in prices off Fed hope

(Kitco commentary) - While the gold and silver markets have shown some positive action this week, the anemic rate of gain on the charts and the limited amount of bullish buzz detracts from the bull case.

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