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New horizons for TBA, page-45

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ronme

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04/09/21

13:49

Post #: 55832358
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Originally posted by ronme: ↑

From investing.com.
Gold hit 3-week highs on Friday, notching its best weekly gain since May, after Powell failed to give a clear timetable for tapering U.S. stimulus spending at the central bank’s much-anticipated Jackson Hole monetary policy symposium. For the week, it rose around 2%, its most in a week since mid-May.
With no ambiguity over which of its two mandates the Fed was now prioritizing – jobs-, the focus returns to what this means for gold prices. Well, gold got firmly above the $1,800 level the first time in three weeks — I say "firmly" because the yellow metal has been in the periphery of $1,800 since Monday. The last time gold traded north of $1,830 was in mid-July. If it gets to $1,850, momentum could easily scale it to $1,900, setting up a potential return to the $2,000 record highs seen a year ago — if all goes well, which, again, is rare in our current uncertain world.

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TBA Price at posting: 4.3¢ Sentiment: Buy Disclosure: Held
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