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Gold News: Warsh’s Tone Could Break the Gold Market’s Five-Week Range
Spot gold closed higher last week. Brent crude pulled back from above $100 and Treasury yields eased from their highs. The gain came late Friday on dip buying and short-covering but the rally stalled well short of the levels that would signal a turn. The FOMC on Wednesday and Thursday’s PCE report are sitting directly in front of a market that has dropped 23% since February and has not found a reason to stop falling beyond positioning relief when oil pauses. Spot Gold settled at $4,052.845, up $35.53 or +0.88%. chart The trend is down according to the weekly swing chart and the 52-week moving average. A trade ... (full story)
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- Jul 26, 3:54pm | 1 hr 2 min ago Posted byTechnical Analysis46
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