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Increased volatility and price breaks are the concern of this week’s Tech Speaking w/ Jim Wyckoff. In the past week, we’ve seen significant near-term chart damage, and despite a small amount of short covering seen recently, the gold bulls are shaken up, and have some heavy lifting to do. Wyckoff cites both the stronger U.S. Dollar index and the E.U. debt crisis as among the most bullish factors for gold right now. Despite this, Wyckoff points out that should the E.U. debt crisis escalate into a market-wide debt contagion, we will almost certainly see safe-haven demand returning to the gold market. Some hope for the bulls? We’ll tell you for sure next week…
Kitco News, May 11, 2012.
As well as the most accurate precious metal prices online, Kitco also provides up-to-the-minute news with usable market information. Videos provided by and © Kitco.
As well as the most accurate precious metal prices online, Kitco also provides up-to-the-minute news with usable market information. Videos provided by and ©
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