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Gold needs a move through $1,480 ’to entice fresh interest‘ - MKS PAMP Group

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Gold prices are holding their ground above $1,450 announce, but the precious metal needs a move through the $1,480 level to see more buying, according to MKS PAMP Group. “An increase in trade tensions between the U.S. and China has underpinned the move away from the USD $1,445 - $1,450 supportive band, however, the metal remains sensitive to headlines and will need to pivot back through USD $1,475 - $1,480 to entice fresh interest,” says MKS. “It is worth noting that recent gains have been led by fast-money interest in the face of ETF outflows, positioning that is fickle amid price volatility.”

By Anna Golubova of Kitco News; agolubova@kitco.com

Markets watching Fed speak after Trump-Powell meeting — TD Securities

Tuesday November 19, 2019 10:14

Markets are carefully eyeing the Federal Reserve speakers on the docket this week following U.S. President Donald Trump and Fed Chair Jerome Powell's meeting on Monday. “With President Trump resuming his pressure on the Fed to cut interest rates, just as Chair Powell embarks on his second pause in the last twelve months, some gold bugs are anticipating that the White House could be looking for reassurances that the Fed is ready to provide a backstop to the government should the trade war escalate — upcoming fedspeak from Williams, Mester and Kashkari will be watched with a keen eye for further signals,” strategists at TD Securities write. This development could save the gold market from further selloff, the strategists add. “While the gold bull has been under pressure from extremely lopsided positioning, this narrative may well provide the bulls with a lifeline to avoid a flush-out of positioning, and instead keep gold prices range-bound.”

By Anna Golubova of Kitco News; agolubova@kitco.com

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