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Gold Price Futures Momentum Shifts to Upside on Trade Through $1564.20
Gold futures closed higher on Friday for no obvious reason other than aggressive speculative buying. Some bullish traders claim they are buying because of political, geopolitical and economic worries. However, we’re not seeing any buying in the safe-haven U.S. Treasurys and Japanese Yen. Other traders are saying the buying is being fueled by speculators placing bets that an overbought stock market will eventually come crashing down. Still others feel that Phase One of the U.S.-China trade deal is weak and bound to fail. Nonetheless, the gold market is still facing headwinds due to global equity markets at record ... (full story)