This USD Rally Could Have Legs; Hurts Gold - Wyckoff

A stronger U.S. dollar continues to weigh on gold prices as Jim Wyckoff says that this latest dollar rally could have legs and further hold gold prices back. Wyckoff says that the USD rally has been putting pressure on all raw commodities, as he points to last week’s strong Friday close as an indicator for its direction. “Last week, the dollar index came roaring out, produced a weekly bullish high close last Friday, which gave the bulls fresh technical momentum,” he says. With U.S. GDP set to come out Friday, Wyckoff isn’t putting much stock into the numbers unless they severely disappoint, stating that this is truly a USD story at the moment. Tune in now to see what market ratings Jim’s giving gold and silver this week. Kitco News, May 28, 2015. (show less)

A stronger U.S. dollar continues to weigh on gold prices as Jim Wyckoff says that this latest dollar rally could have legs and further hold gold prices back. Wyckoff says that the USD rally has been putting pressure on all raw commodities, as he points to last week’s strong Friday close as an indicator for its direction. “Last week, the dollar index came roaring out, produced a weekly bullish high close last Friday, which gave the bulls fresh technical momentum,” he ... (read more)

Technically Speaking

Technically Speaking
Kitco’s Senior Analyst Jim Wyckoff has his charts come to life every Thursday on Technically Speaking. From key price targets to his weekly market rating for gold & silver, viewers really get a chance to understand how the technicals are impacted by the headlines. Will gold get a passing grade this week? Watch to find out!

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