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POSTED ON April 26, 2022  - POSTED IN Exploring Finance

The price analysis last month highlighted how gold was trying to carve out fragile support around $1900 and breakthrough resistance at $1950.

Gold found a spark and broke through $1950, but has been unable to hold above it in the wake of “hawkish” Fed comments. Now, $1900 is being tested and should give clues to the next move. So far, it has held with only a slight dip into the $1800s before recovering. A hard bounce here would prove near-term bullish, but if the price breaks down below $1880 it could be a few more months until gold musters the strength to take on $2000 again.

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.

POSTED ON October 25, 2021  - POSTED IN Exploring Finance

The analysis last month showed that selling exhaustion may be near in the gold market. Since then, gold continues to be range-bound between $1750 and $1800 running up against both solid resistance and support. Meanwhile, silver has shown a mini-breakout.

The $1800 level for gold is in play this week and could open the door for a big move if it gets through it soon.

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