Gold still finished the week higher, reclaiming the $5,000 level as cooler U.S. inflation data lifted expectations for Federal Reserve rate cuts and pressured Treasury yields lower.
We’re seeing a rebound in the precious metals, as the gold price is once again back over the $5,000 per ounce mark, while the silver futures are up $2.21 to $77.89.
Gold has good support down to $4,500 but $4,300 can’t be ruled out. We’d like to see that hold. We don’t want to see gold break under $3,800 as that would suggest that the bull is over.
What the heck just crashed silver? Gold plummeted 10.3% that day fueled by heavy selling overnight in China! Gold had also entered a popular speculative mania in mid-January, mostly driven by...
What started off as a relatively benign day in the gold and silver markets has turned into another bloodbath, which we’re also seeing in the other markets as well.
