Gold and gold stocks approach resistance

  • 📰 KitcoNewsNOW
  • ⏱ Reading Time:
  • 9 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 7%
  • Publisher: 78%

Business News News

Business Business Latest News,Business Business Headlines

Gold and gold stocks approach resistance

Precious Metals have enjoyed their best rally since the spring but are approaching significant resistance levels.The weekly and monthly charts show stiff resistance in the $1780 to $1820 zone.Gold and silver stocks, which have outperformed the metals recently, rallied up to close to a confluence of resistance.Meanwhile, SILJ, which trades more volume than SIL, has tested its 200-day moving average twice.It has pulled back after reaching $22, a major resistance level.

Fundamentally, the next catalyst figures to be an official end to Fed rate hikes. This may or may not be preceded by the next round of selling in the broader market.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 13. in BUSÄ°NESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Gold stocks & gold: a bullish divergenceKitco News' contributed commentary features articles and opinions from some of the top experts in the gold industry.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »