Gold price tumbles $40, will it collapse back to $1,700? Watch these warning signs - Jim Wyckoff
Gold fell 2% on Thursday, but this is just reflective of routine profit taking, said Jim Wyckoff, senior analyst of Kitco News.
Importantly, the U.S. dollar has moved up on Thursday’s session, likely as a consequence of having fallen for too long, Wyckoff said.
“Importantly, the price uptrend in gold on the daily chart remains in place. The bulls are still in firm technical control,” Wyckoff told David Lin, anchor for Kitco News.
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Видео Gold price tumbles $40, will it collapse back to $1,700? Watch these warning signs - Jim Wyckoff канала Kitco NEWS
Importantly, the U.S. dollar has moved up on Thursday’s session, likely as a consequence of having fallen for too long, Wyckoff said.
“Importantly, the price uptrend in gold on the daily chart remains in place. The bulls are still in firm technical control,” Wyckoff told David Lin, anchor for Kitco News.
__________________________________________________________________
Kitco News is the world’s #1 source of metals market information. Our videos feature interviews with prominent industry figures to bring you market-affecting insights, with the goal of helping people make informed investment decisions.
Subscribe to our channel to stay up to date on the latest insights moving the metals markets.
For more breaking news, visit http://www.kitco.com/
Follow us on social media:
Facebook - https://www.facebook.com/KitcoNews/?ref=br_rs
Twitter - https://twitter.com/kitconewsnow
StockTwits - https://stocktwits.com/kitconews
Live gold price and charts: http://www.kitco.com/gold-price-today-usa/
Live silver price and charts: http://www.kitco.com/silver-price-today-usa/
Don’t forget to sign up for Kitco News’ Weekly Roundup – comes out every Friday to recap the hottest stories & videos of the week: https://connect.kitco.com/subscription/newsletter.html
Join the conversation @ The Kitco Forums and be part of the premier online community for precious metals investors: https://gold-forum.kitco.com/
Disclaimer: Videos are not trading advice and the views expressed may not reflect those of Kitco Metals Inc.
Видео Gold price tumbles $40, will it collapse back to $1,700? Watch these warning signs - Jim Wyckoff канала Kitco NEWS
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