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The gold market is having a hard time to locate regular momentum as well as it might be time for the red warm steel to cool, according to Carley Garner, founder of DeCarley Trading.
Garner claimed that after gold's run, which saw costs hit a 7.5-year high last month, an improvement would be healthy and balanced. Although Garner sees the possibility of gold testing resistance at $1,650 an ounce, she claimed that she is optimistic prices can relocate higher later in the year.
" As long as that location holds, I think gold's got a great chance at it, running back up," she stated. "Assuming those levels hold, as I expect them to, I'm thinking someplace in the $1,800, to $1,850 area."
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'Gold rally got a little carried away' - DeCarley Trading
The gold market is struggling to find consistent momentum and it may be time for the red hot metal to cool down, according to Carley Garner, co-founder of DeCarley Trading.
Garner said that after gold’s run, which saw prices hit a 7.5-year high last month, a correction would be healthy. Although Garner sees the possibility of gold testing resistance at $1,650 an ounce, she said that she is optimistic prices can move higher later in the year.
“As long as that area holds, I think gold's got a good shot at it, running back up,” she said. “Assuming those levels hold, as I expect them to, I'm thinking somewhere in the $1,800, to $1,850 area.”
__________________________________________________________________
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