is racing to reach that area, so investors may have an opportunity to buy gold on some type of pullback. If this happens, there should be plenty of people out there willing to take advantage of "cheap gold," as the trend has been so obvious. Ultimately, it is believed that given enough time, gold will break above the $2100 level, which would make it more of a "buy-and-hold" type of market.
The economic conditions remain weak, and this makes a lot of sense in terms of gold attracting a lot of money as far as wealth preservation is concerned. This has been a major driver of what's been going on in gold over the last year. While an area of consolidation may be waiting to happen, there is still a favorable upside trend.It's important to note that much of the massive gain early in the day occurred during a thin time in the market, and it may have been a little exaggerated.
in everything increases. If gold were to break below the $2000 level, it would mean bad things. In the meantime, I am using $2020 as a stop loss.
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: WSJ - 🏆 98. / 63 Read more »