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Gold fails at the top of the range again

The latest leg of the gold bull run was predicated on:1) An unstable banking system2) A Fed pivotToday we're getting a big rebound in US regional banking stocks, albeit from extremely-depressed levels. It's been aided by a JPMorgan upgrade of some names. On top of that, the US non-farm payrolls report was strong and that likely lengthens the timeline before the FOMC can cut rates.In response, gold is down $42, or 2.1%, to $2008. Technically, gold momentarily touched an all-time high yesterday in... Read More

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Gold

Fails

Range

Again

Forex

Posted: May 5 2023, 13:15

Author Name: forexlive

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