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(June 12) Gold prices rose higher Thursday and Jim Wyckoff joins Kitco News to tell us why on this edition of “Technically Speaking.” He says the technical posture for gold is still overall bearish but the bulls have gained near-term technical momentum. “[Gold Bulls] certainly need to show more power soon to suggest we can sustain a price uptrend,” he adds. Wyckoff also comments on the civil war in Iraq and says if the unrest spreads to other producing nations in the region, gold may see some more safe-haven demand. Looking over at equities, he says that the bull market run is very mature. “It’s my bias that these stock indexes are probably going to peak sooner rather than later.” Tune in now to get this week’s market rating as well as key support & resistance levels for gold and silver. Kitco News, June 12, 2014.
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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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