Metals Remain Bid Ahead Of Week's Events

(Kitco News) - Gold remains bid after Friday's short-covering rally on a weaker jobs number. Theterror attack over the weekend in London has created more uncertainty on theoutcome of the British election on Thursday,and the ECB meeting on Thursday will be closely watched for signals from MarioDraghi on monetary policy. The overall market has a sense of nervousness thatcontinues to encourage fund managers to deploy capital into the precious metalsmarkets. Retail continues to lighten up into strength, which historicallyindicates the markets have further to run. Gold has support at the $1, 278area, with the next resistance level at $1,292.

By Peter Hug

Contributing tokitco.com

Follow @KitcoNewsNOWnewsfeedback@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 precious metal products, 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.

Gold stocks propelled by gain in metal and equities

Big Gold producers report strong Q1/24 results

Gold stocks decline as metal drop offsets equity risk on

Canadian mining equity capital raising robust in 2023, early 2024

Gold stocks gain even as metal price pulls back