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Is Dollar s Weakness Giving Way to Gold? :: The Market Oracle ::

So, Where Is Gold s Corrective Upswing? :: The Market Oracle ::

Can the precious metals move lower before a short-term correction, and after correcting, will they continue their medium-term downtrend? Gold & silver reversed yesterday (Mar. 2) and the GDX rallied after bottoming right in my previous target area, but it’s still unclear if the bottom is in. Let’s check what’s happening in the charts. Figure 1 – COMEX Gold Futures (GC.F) In short, gold reversed yesterday after touching the upper border or my target area. Can the temporary bottom be in? Yes. Is it likely to be in? Not necessarily. Most likely it’s not in yet, because gold still hasn’t moved to its strong support levels.

Gold Approaches $1,700 on Rising Economic Confidence

forecasts Gold Approaches $1,700 on Rising Economic ConfidenceGold remains in a bearish trend as economic confidence has improved, however, inflation can change all that around. Mar 04, 2021 03:56 PM GMT The chart presenting gold prices in 2021 doesn’t look too encouraging. The yellow metal continued its bearish trend at the turn of February and March. So, as one can see, the price of gold has declined from $1,943 on January 4 to $1,711 on Wednesday (Mar. 3) This means a drop of 232 bucks, or 12 percent since the beginning of the year. Advertisement Start Trading 75% of retail CFD investors lose money What is happening in the gold market? I would like to blame the jittering bond market and increasing bond yields , but the uncomfortable truth is that the yellow metal has slid in the past few days

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