Gold buying opportunity could continue

Gold prices fell last week before rallying back above the support level at $1,460 per ounce (see the blue line on the following chart). Prices closed at $1,472.70 per ounce for the week. Although prices broke down out of the “pennant” formation that I identified the...

China decides to wait it out

Gold prices closed last week at $1,463.90 per ounce, holding above the support level at $1,460 per ounce (see the following chart – blue line). This support continues to provide a buying opportunity for another run at $1,570 per ounce. The chart is displaying another...

A “safe haven” against the ongoing trade war

Gold prices closed slightly higher last week at $1,468.90 per ounce, holding above the support level at $1,460 per ounce (see the following chart). This support may provide a buying opportunity for another run at $1,570 per ounce. The greatest threat to the global...

Gold and lower interest rates

Gold prices fell last week, closing at $1,462.90 per ounce. Prices broke out of their recent “pennant” formation (see last week’s article) and tested the previous support level at $1,460 per ounce. The Federal Reserve recently announced its third interest-rate cut of...

Buying opportunity for gold still in play

Gold prices closed a little higher last week at $1,515 per ounce, holding above the $1,500-per-ounce support level. The “pennant” consolidation may still be providing a buying opportunity (see the following chart). Concerns about the U.S. economy persist, as the...