Gold: Would Not Chase it in Here

Gold: Would Not Chase it in Here

$XAU $GLD $USD

Do not be surprised if gold moves to consolidate its gains or correct after this jump in prices, a big downturn is not likely on the cards if that happens.

Gold’s latest rally comes on back of last week’s US airstrike near Baghdad’s airport that killed General Qassem Soleimani, 1 of Iran’s Top military commander.

How long the boost to gold’s price lasts depend on how the Iranian situation unfolds and whether it escalates and that situation may get worse or quickly de-escalate. We wait, We see

Gold prices broke out 2 wks ago, is rally mode and in an up trend.

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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