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Did you miss the dip? Analysts see new bullish potential for gold as prices hold above $4,100
Gold’s break above $4,100 has slowed, but analysts note that bullish fundamental factors continue to point to further upside risk for the precious metal. Last week, Alex Kuptsikevich, Chief Market Analyst at FxPro, was bearish on gold, noting that the sharp decline from last month’s record highs caused significant technical damage to near-term price action. However, in an updated note on Tuesday, Kuptsikevich said that rumours of gold’s demise appear to be greatly exaggerated. Spot gold last traded at $4,133 an ounce, up 0.18% on the day and more than 3% so far this week. Kuptsikevich noted that gold’s push ... (full story)
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