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  • Is gold stuck? Analysts see 'ladder approach' when it comes to gold price rally in 2021

    From kitco.com

    Gold cannot break out of its wide trading range between $1,800 and $1,900, with the precious metal holding support well yet lacking momentum to move higher. "Nothing goes in a straight line. It is consolidating. Looking for something to keep the momentum going," said Kitco Metals global trading director Peter Hug. After seeing an unexpected jump on Wednesday, when Joe Biden was being sworn in as president of the United States, the $1,870 an ounce level turned out to be too strong of a resistance point for gold as the precious metal consolidated back to the $1,850s. At the time of writing, February Comex gold ... (full story)

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Too many things to pay attention to and all pulling in different directions. Is it not easier (and more honest) to say no one knows what is influencing Gold price for now (in terms of so-called "fundamentals"), and that we are just in a guessing game there and probably should ignore the analyst community for now? I mean they are not singing from the same score sheet. Indeed, they cannot know now until well after the market moves where it wants then we should see the "experts" with all sorts of stories explaining why the move occurred. I think prediction is simply not a strong suit for "fundamental" analysts. Rather, explaining after the fact is (that is if you care at that point).

The Crow (-_-)
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  • Story Stats
  • Posted: Jan 22, 2021 4:06pm
  • Submitted by:
     Newsstand
    Category: Fundamental Analysis
    Comments: 1  /  Views: 85
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