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Gold remains in healing mode, but is this a start of one more bull run or just a response to an oversold drop in November? This is specifically what Kitco News asked the experts this week as well as the optimists dominated.
Simply a little bit of history here, gold increased back above $1,800 an ounce in December and also attempted to hit a key level of $1,850 several times. Analysts say that as soon as that level is breached, gold can be all set to approach $1,900. Afterwards, the vital resistance level becomes $1,925, which would then clear the path towards $1,975.
Triggers to enjoy are surging coronavirus numbers, stimulus talks, equities performance, as well as the Fed meeting next week.
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Year-end surprise in store for gold? 3 weeks left in 2020
Gold is in recovery mode, but is this a start of another bull run or just a reaction to an oversold drop in November? This is exactly what Kitco News asked the analysts this week and the optimists prevailed.
Just a bit of background here, gold rose back above $1,800 an ounce in December and even attempted to hit a key level of $1,850 several times. Analysts say that once that level is breached, gold could be ready to approach $1,900. After that, the key resistance level becomes $1,925, which would then clear the path towards $1,975.
Triggers to watch are raging coronavirus numbers, stimulus talks, equities performance, and the Fed meeting next week.
__________________________________________________________________
Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people make informed investment decisions.
Subscribe to our channel to stay up to date on the latest insights moving the metals markets.
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