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The View From The Montana Log-Cabin As Gold Sneaks Back Over $2300,$2500 here we come!

By Nigel Somerville | Sunday 16 June 2024


Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


Gold closed the week at $2,333 – up from last week’s disappointing $2,293 and back over $2,300. The question is whether $2,300 will hold now, or whether the yellow metal will correct to a lower level. I fancy it could well hold the line after a week during which expectations for US interest rate cuts were massaged lower by the Fed – usually bad news for Gold – as US treasury yields fell.
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