The price of gold hit a seven-week high Tuesday. Prices are getting close to the $1,300 mark. Bullish technical charts, a weaker U.S. dollar and safe-haven demand are all working for gold at the moment. Gold was last up $15.10 an ounce at $1,294.40.
The question is will the U.S. dollar continue to decline? The dollar is at a sixth-month low right now. I see gold at 1,500 if the dollar continues to fall. The Federal Reserve will meet next week. I expect the Fed will slightly raise interest rates.
Mike
The question is will the U.S. dollar continue to decline? The dollar is at a sixth-month low right now. I see gold at 1,500 if the dollar continues to fall. The Federal Reserve will meet next week. I expect the Fed will slightly raise interest rates.
Mike
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