Gold To See Minor Profit Taking As The Metal Reflects On Rally - RBC's George Gero
Gold prices are taking a pause after rallying on Monday, astraders use the moment for profit taking, says George Gero, managing directorat RBC Wealth Management. “Gold pausing today, may see minor profit taking, asall attention on strong stocks. Weak dollar continues,” Gero writes. One of thelooming risks this week is the U.S. government shutdown, he points out. “Goldpausing to reflect on all this for now.”
By Anna Golubova of Kitco News; agolubova@kitco.com
Gold's $1,330 Support Level Should Hold - MKS
Tuesday January 16, 2018 08:53
Spot gold pricesfell Tuesday after trading above $1,340 inthe previous session, but MKS PAMP trader Sam Laughlin believes the metal hasmore room to run and the $1,330 support should hold. “Supportive interestaround USD $1,330 should restrict any further declines; however, should we seea period of weakness, support broadly around USD $1,305 - $1,310 will act as apivot point for the metal and will need to hold to continue the recent upwardmomentum,” Laughlin says in a note to clients. Gold looks ready to test itsSeptember high in the near term, he adds. “We are likely to see further shortsqueezes over the near-term as the metal edges toward USD $1,350 and above thisthe September 2017 high around USD $1,357 will be the ultimate target forbulls.”
By Anna GolubovaFor Kitco News
Follow annagolubova
agolubova@kitco.comwww.kitco.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.