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Gold Reverses off Record Highs, Will We See 2K Next?
If I described the current market environment, with a weakening US dollar, falling yields, geopolitical tensions, and an historically strong season period for gold, you probably wouldn’t be surprised to hear that the yellow metal is rallying. However, if I told you that gold spiked roughly 3.5% in less than an hour to hit record highs in low liquidity Asian session trade, you’d probably be a bit skeptical of the move. As it turns out, all of the above statements are true... and the market clearly expressed skepticism with today’s early spike as gold is now trading lower on the day. Outside of unpredictable ... (full story)