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Gold bulls tire at $4,200 as prices build a floor at $4,000
Despite solid profit-taking ahead of the weekend, the gold market is poised to end the week in positive territory and establish new support at $4,000 an ounce. Gold’s failed attempt to break above $4,200 per ounce this week has created some short-term bearish sentiment. According to the latest Kitco News Weekly Gold Survey, there is no significant consensus among Wall Street analysts regarding next week’s price action; however, many continue to view lower prices as a tactical buying opportunity. Meanwhile, Main Street investors remain solidly bullish on the precious metal. “There is uncertainty about the U.S. ... (full story)
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