Wyckoff Comments on Deutsche Exit, Gold Prices Down – Kitco News

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(Recorded on January 21) Deutsche Bank recently announced it will exit the London gold fixing and Kitco News gets Jim Wyckoff’s thoughts on the matter. “The news is not significant from a price perspective,” Wyckoff says. “The London gold fixing, these days, are really an insignificant part of the overall pricing of gold.” Wyckoff adds he wouldn’t be surprised if other banks followed Deutsche Bank’s example. “I think from a market perspective, it’s not a big deal.” Looking at the price, He says that although gold is under some pressure, there is also an uptrend in place from the recent low from a technical perspective. He adds that the price action for the rest of this week in the gold market will be ‘extra important.’ Tune in now to get his market rating for gold and silver. Kitco News, January 21, 2014.

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