Another quiet night overnight for precious metals, with gold trading in a relatively narrow range, between USD $1288oz and USD $1299, as markets balanced...

Jordan Eliseo

ABC Bullion

Another quiet night overnight for precious metals, with gold trading in a relatively narrow range, between USD $1288oz and USD $1299, as markets balanced dovish noises from the Bundesbank re European interest rates, and a weaker than expected US retail sales print. Its looking like USD $1300oz is shaping up as a key pivot point for the market, with a range of moving averages converging around this price point in the coming weeks. Until then, it could stay in a range between USD $1280 and USD $1320oz With that in mind, its not hard to see why many shorter term traders would be focusing on other markets right now. For long term holders, buying in tranches continues to have merit, for there is still a 50/50 chance this period of relative tranquillity breaks to the downside and one final washout in the sector More details here (VIEW LINK)


Jordan Eliseo
General Manager
ABC Bullion

Gold and precious metal bull since early 2000. Have spent +25yrs working in investment analytics, research & portfolio construction, with a primary focus on the role of precious metals in investor portfolios. Author of two books on investing in...

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.

Comments

Sign In or Join Free to comment