The yellow metal surpassed $3,000 an ounce for the first time, driven by central bank buying, economic fragility, and President Trump's trade policies.
Another day, another record for gold. Gold is a go-to safe haven in times of economic uncertainty, geopolitical tensions, and loss of faith in governments.
As you can see, you're now at the $3000 level. You've had higher lows, higher highs—that's bullish, until the market gets back underneath this last low of last week.
So swift has been Gold’s recent rise, that after having settled 59 days in the 2600s and 30 days in the 2700s, there’ve been 11 settles in the 2800s. What that means for you WestPalmBeachers is don’t be surprised should selling ensue.
The key 14,7,7 Stochastics oscillator is bordering on a fresh buy signal in the momentum zone at about 50. That’s another very bullish sign for the price of gold.
What might the price of gold have to be to return the United States to a more traditional and sustainable level of debt relative to gross domestic product?
A huge rise in gold call options (in near dated maturity and far dated maturity as well) has been witnessed there is CME and probably in almost every exchange globally.
