Gold eyes $3,800 but might need weak labor market data to get there

Gold eyes $3,800 but might need weak labor market data to get there

From kitco.com

Gold prices have stumbled slightly around $3,800 an ounce, but many analysts do not expect this new resistance level to pose much of a challenge, as inflation is not hot enough to stop the Federal Reserve from continuing down its path of easing monetary policy. Amid its unstoppable rally since last month’s breakout, gold is ending Friday at another all-time high for the fifth consecutive week, moving back within striking distance of $3,800 an ounce. Spot gold last traded at $3,775.69 an ounce, up nearly 2.5% since last Friday. Although momentum indicators highlight that gold is significantly overstretched, many ... (full story)

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