Gold Hitting Fresh Lows, $1,100 Next Major Psychological Level – iiTrader

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Gold hits a fresh four-year low and Kitco News speaks with iiTrader’s Bill Baruch to find out where he thinks the metal is headed. “We’re seeing the dollar extend its four-year highs further. The dollar index is really pressing higher and this is what’s moving the market,” he says. For the gold market, Baruch adds that the major psychological level is $1,100. “The next major downside target really is going to be a 1,035-1,045 pocket, there’s a level down there that we’re eyeing.” Tune in now to find out how he sees gold set up for the rest of this busy economic data week. Kitco News, November 5, 2014.

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