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Gold Prices Expected To Maintain Upward Momentum

Monday, 24 February 2020 11:05 WIB Gold Outlook Gold Corner

Gold has enormous upward momentum at the moment, and that left participants in the weekly Kitco gold survey overwhelmingly expecting prices to keep rising this week due to the combination of  chart-based momentum and ongoing worries about the coronavirus outbreak. The metal soared to a seven-year high on last Friday, fueled by the continued spread of the virus around the world and prompting worries this will dent economic growth. Some observers also cited expectations for continuing soft monetary policy in the U.S. and elsewhere. Early last week, many participants in a range of markets took the "ostrich approach" – sticking their head in the sand and not worrying about the outbreak,...

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RECENT NEWS

Voters in the weekly Kitco gold survey are bullish on the metal this week, citing gold's ability to hold up even when the dollar and equities strengthen, technical factors and ongoing worries about how the coronavirus could impact the global...

Voters in the weekly Kitco gold survey remain bullish on the metal, with Wall Street analysts continuing to cite expected safe-haven buying of the precious metal due to worries about the impact of the coronavirus on the global economy. The stock...

Voters in the weekly Kitco News gold survey remain bullish on the yellow metal for this week, with traders and analysts citing ongoing worries about the economic fallout from the coronavirus that hit China, with a small number of cases now making...

Gold is well supported and has room to run higher this week as analysts point to the Federal Reserve meeting and the spread of the new corona virus as the two key issues to keep an eye on. The yellow metal battled against risk-on sentiment last...

Wall Street and Main Street alike look for gold to continue the recent bounce this week.             Thirteen market professionals took part in the Wall Street survey. Ten, or 77%, called...

After a roller-coaster week in which gold futures scaled a cliff only to fall off, the Friday high and low so far are both within Thursday’s trading range. This is referred to an “inside day” on the daily charts and a sign of market indecision...

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