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Boring gold faces tough competition from euphoric equity markets next week
While the gold market is ending the week with modest gains, it remains caught in its weeks-long channel as resistance at $2050 an ounce continues to hold. The gold market continues to attract investor attention even after imminent rate cuts were taken off the table, as the Federal Reserve has signaled that it will ease its monetary policy this year. Many analysts and economists expect the central bank to embark on its new easing cycle in June. As of 1:20 p.m. ET, April gold futures were trading at $2,048.50 an ounce, up 1% from last week. Analysts remain bullish on gold as rates will inevitably move lower; however, ... (full story)