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POSTED ON December 18, 2021  - POSTED IN Exploring Finance

Gold looked very strong through mid-November. Trends in September and October had been pointing to a breakout. The market delivered sending gold up through $1870. Unfortunately, hard resistance kept the bulls in check, despite repeated attempts to breakthrough.

The previous price analysis presumed that a Brainard nomination at the Fed would be the catalyst needed to break through $1880. It also assumed that a Powell nomination, though expected, would bring gold back down to some extent.

Unfortunately, the gold market took the Powell news harder than expected.

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