Gold Bulls Need To Defend Crucial $1,183 Level: Jim Wyckoff | Kitco News

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Kitco News speaks with Jim Wyckoff following yesterday’s ‘elephant in the room’ FOMC meeting to see how he sees gold set up for the rest of the year. “I think the main impetus for the gold market was the strong rally in the U.S. dollar,” he says. “The other thing that’s impacting gold is that we have some geopolitical hot spots that have simmered down in the past several weeks.” Wyckoff gives gold and silver his lowest market ratings in a while and says that it is crucial for gold to hold $1,183. “If prices fall below that, you’ll probably see a stiff leg down in prices and a challenge of $1,000 could not be ruled out.” Tune in now to the latest edition of “Technically Speaking.” Kitco News, October 30, 2014.

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