I think the western narrative will continue to drive gold prices sideways another week or so. While Chinese New Year officially ends 20th Feb, the 21st through 24th are lantern festivals and also holiday bound. I am currently doing some business negotiations with Vietnam and their official New Year (TET) break ends today, with many public and private enterprises back at work from this morning. Vietnamese love gold and prices in Hanoi and HCMC are higher than spot average, with the government being asked to investigate recently why the price hikes are allowable.
I expect gold to slowly creep up over the next 2 weeks. March I am expecting (hoping) some consolidation around the $2050 level.
BGD is a long term play, but I like the odds of them being successful.
I think the western narrative will continue to drive gold prices...
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25.3¢ |
Change
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