Ira Epstein discusses the current state of the metals market, highlighting key economic indicators and geopolitical tensions affecting market dynamics.
The events in the Middle East, with the bombing of Iran, might be the catalyst, not only for oil and gas to rise but also for a rise in precious metals.
Gold’s expected weekly trading range is 304 points, which with the Middle East offensive could be covered early on in the ensuing week; (the daily is 159 points).
In recent weeks, a series of revelations around the world has unsettled public confidence, exposing how influence can blur the boundaries between access, reputation and accountability.
High consolidations need to extend to at least six weeks to sufficiently reduce the odds of serious drawdowns. Today gold is only halfway there, needing to extend its run into mid-March.
