Is It Time to Look Away from Gold?
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Lately, I’ve been reading about all of this buying of gold bullion by central banks around the world.
Some would say the move is bullish for the precious metal, but I’m not convinced. I was encouraged by the recent bounce after the price fell below $1,400 an ounce, but it has since stalled, based on my technical analysis.
To tell you honestly, I’m not sure in which direction the yellow metal will move. The recent rally was more technically driven than based on fundamentals.
There are many factors involved that could encourage the precious metal’s future direction.