Gold Stocks Overbought: Pullback Sets Up Potential Buying Opportunity

That’s the primary reason for the pause in the action.Those concerns are exacerbated by the fade of inflation in Europe. That could theoretically put pressure on theAll fiat is clearly on a long-term road to a place best described as financial Hades versus gold.On this weekly chart, I highlighted the right shoulder action on Stochastics that was both the technical launchpad for the breakout over $2100 and rocket fuel for the surge to the $2400 target zone.

Here’s another look at the flagpole and potential flag pattern, via the weekly close chart. Simply put, the price action is magnificent!I suggest waiting for a return to the 50 zone for the index and 30 or lower for RSI. If that happens as gold arrives at my buy zone of $2220, buyers of gold, silver, and miners should fare quite well.That’s because a dip from $2440 to $2270 is roughly a 7% price sale.

The Fed meet today is important, but the Indian election is likely even more so. The winner is now scheduled to be announced June 4, and the nation’s citizens are likely to return to the gold market then.

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Gold bars and coins vs. gold stocks: Which is better for investors right now?Both types of gold assets could be a smart bet in today's economic environment. Here's why.
La source: CBSNews - 🏆 87. / 68 Lire la suite »

Investors Advised to Choose Physical Gold Over Gold Stocks for Market VolatilityGeorge Milling-Stanley, chief gold strategist at State Street Global Advisors, suggests that investors should consider investing in physical gold as a means of protection against potential weakness in the equity market. He explains that gold stocks tend to go down with the general level of the equity market, while physical gold offers an extra level of protection. The distinction in expense ratios between gold stocks also attracts different types of investors.
La source: NBCDFW - 🏆 288. / 63 Lire la suite »

Gold Stocks: Good Times Could Be Here AlreadyStocks Analysis by Stewart Thomson covering: XAU/USD, XAG/USD, US Dollar Index Futures, Gold Futures. Read Stewart Thomson's latest article on Investing.com
La source: Investingcom - 🏆 450. / 53 Lire la suite »