Sunday, February 25, 2018 11:07:41 PM
http://www.kitco.com/news/2018-02-25/Gold-Begins-The-Week-With-Gains-As-All-Eyes-Turn-To-Powell.html
Kitco NewsShare this article:
Gold Begins The Week With Gains As All Eyes Turn To Powell
(Kitco News) - Gold prices rose in Asian trading on Monday following a decline of more than 1% last week, as traders turned their attention to Federal Reserve chair Jerome Powell’s upcoming testimony.
April Comex gold futures advanced to $1,338.70, up 0.63% on the day, while the U.S. dollar index declined to 89.72, down 0.27% on the day.
Powell’s semi-annual testimony in front of U.S. Congress will begin on Tuesday and traders are ready to start picking apart the Fed chair’s comments for any potential clues in terms of future pace of U.S. monetary tightening.
But, analysts project to see largely the same policy outlook as established by the former Fed chair Janet Yellen.
“We expect Powell to signal policy continuity in the near term and acknowledge the near-term growth effects of fiscal policy and the longer-term deficit and debt implications. He will also likely be asked about recent changes in financial conditions and the risks they pose to the outlook,” analysts at Nomura said in a note published on Friday.
Here Is Why Gold Bulls Should Be Eyeing $1,375 Level
http://www.kitco.com/news/2018-02-25/Here-Is-Why-Gold-Bulls-Should-Be-Eyeing-1-375-Level.html
Many experts are wondering why gold hasn’t broken out yet, especially in light of rising inflation fears, but one analyst says the $1,375 level is what it’s all about.
The key resistance this year has been the $1,375 target, said Matt Maley, equity strategist at Miller Tabak, adding that gold has been testing this level during the last couple of years, but was unable to successfully breach it.
“The $1,375 mark was the metal's highs from both 2016 and 2017, so a break above that line would give gold a technically significant ‘higher high’,” he wrote in a CNBC post published on Friday.
Another aspect of the $1,375 level is that it forms the “top line in ‘an ascending triangle’ pattern.” And if that formation finally breaks on an upside, a very bullish technical momentum will be triggered, Maley said.
“Of course, we always have to wait for an actual break of this key resistance level before we can declare anything. Still, investors should consider that any meaningful break above $1,375 would confirm that the multiyear downtrend has reversed,” he added.
OK what is Fair Value Now?Way higher.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=138815736
Gold Prices Are Rising as the Fed Hikes Rates -
https://moneymorning.com/2017/12/15/dont-be-fooled-gold-prices-are-rising-even-as-the-fed-hikes-rates/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+USMoneyMorning+%28Money+Morning%29
Note ....
The gold bull market in the 1970s and 1980s happened
even as the Fed tested record-high interest rates.
The yield on the 30-year Treasury bond rallied sharply
during the late 1970s, eventually topping 15% in 1981.
Gold rallied from about $100 per ounce in 1976
to over $850 per ounce in 1980.
In GOD We Trust -
http://www.kitconet.com/images/live/au0001wb.gif
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
God Bless America
Glidelogic Corp. Announces Revolutionary AI-Generated Content Copyright Protection Solution • GDLG • Jul 26, 2024 12:30 PM
Southern Silver Files NI43-101 Technical Report for its Updated Preliminary Economic Assessment for the Cerro Las Minitas Project • SSV • Jul 25, 2024 8:00 AM
Greenlite Ventures Completes Agreement with No Limit Technology • GRNL • Jul 19, 2024 10:00 AM
VAYK Expects Revenue from First Airbnb Property Starting from August • VAYK • Jul 18, 2024 9:00 AM
North Bay Resources Acquires Mt. Vernon Gold Mine, Sierra County, California, with Assays up to 4.8 oz. Au per Ton • NBRI • Jul 18, 2024 9:00 AM
Nightfood Holdings Signs Letter of Intent for All-Stock Acquisition of CarryOutSupplies.com • NGTF • Jul 17, 2024 1:00 PM