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The real gold price test is coming next week – analysts

From kitco.com

The gold market might face a real test next week – holding the $1,700 an ounce level. This will be critical for the precious metal, which has stayed largely above that level for all of 2021, according to analysts. Even with China's Evergrande fears worrying the markets, gold failed to move sustainably above the $1,750 an ounce level. And with higher Treasury yields and a stronger U.S. dollar following the upbeat Federal Reserve announcement, the precious metal could be in danger of testing the $1,700 level, said OANDA senior market analyst Edward Moya. "The $1,700 level held up for all of this year, except for a brief ... (full story)

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  • Category: Fundamental Analysis