Cold War 2.0′ Between US & Russia May Be Good For Gold: Wyckoff | Kitco News

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Kitco News speaks with Jim Wyckoff about gold’s breach of the 200-day moving average early on Thursday morning. “[This is] just one more bearish technical clue, among many, that had put the gold market under pressure,” he said. Wyckoff adds that the gold market is struggling due to a lack of ‘fresh bullish fundamental news’ in the past several days. “Technical traders are taking over, near-term technicals are bearish and the path of least resistance for gold is sideways to lower,” he concludes. Looking over at economic data, Wyckoff says that traders will be eyeing the highly anticipated jobs numbers expected next week. With regards to tensions in Ukraine, he says that the issues between Russia and the US are not going away. “We have not seen the last, or heard the last, of this so-called ‘Cold War 2.0’ between the US and Russia.” Tune in now for more from Kitco’s Senior Metals analyst Jim Wyckoff. Kitco News, March 27, 2014.

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