Gold climbs to fresh 7-week tops, just above $1490 level
Gold maintained its strong bid tone for the second consecutive session on Tuesday and climbed to seven-week tops, around the $1490 region in the last hour.
The precious metal added to the previous session's positive move and gained some follow-through traction through the early European session on Tuesday amid renewed concerns about US-China relations.
As investors looked past the latest trade optimism, China's criticism over the US interference in its internal affairs – concerning Taiwan, Hong Kong – underpinned the precious metal's perceived safe-haven status. Read more...
Today’s Gold Upswing and Lessons from Gold Tops
What a classic day Friday was! Gold moved a bit lower, miners moved significantly lower, and silver rallied. Truly classic and outstanding performance if one enjoys seeing topping patterns that are playing out according to their usual and likely characteristics. And Monday’s early session seems to be an encore.
Let’s start with the examination of the most recent price action in gold. Read more...
Gold continue sideways, trading in a bull flag formation
Gold continue sideways, trading in a bull flag formation as we predicted for several weeks & this could go on for several weeks (unfortunately it is!). We edge higher to 1486, closing in on important resistance at 1490/92.
Silver we wrote: finally beats 1710/12 as expected for a buy signal targeting 1726/30, perhaps as far as minor resistance at 1740/45 this week. Read more...
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