Gold market sees new record closing price, but the major test is next week

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“There is an even longer-term scenario. The pullback from the beginning of the year to mid-February is a classic Fibonacci retracement of 61.8% of the first growth impulse from the October lows. The realization of this scenario will be the advance to $2255,” he said. Some analysts have noted that gold could face a significant test next week with the release of February’s nonfarm payrolls report. At the same time, markets will be anxious to hear what Federal Reserve Chair Jerome Powell will say in his two days of testimony before Congress.

 

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Kitco NEWS Reports on Mining Companies Snowline Gold and NexGen EnergyKitco NEWS provides accurate and objective reporting on mining companies Snowline Gold and NexGen Energy. Snowline Gold has seen significant growth due to outstanding drill results and backing from B2Gold. NexGen Energy has experienced a surge in stock value with the rise in uranium prices.
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