Silver has long been undervalued and the current dip means an opportunity to obtain silver at lower...
Gold appears to be breaking out of the post-election slump. Will gold spot prices look drastically different post-inauguration?
In the last week, analysts have become very excited about the COMEX gold futures chart. After gold spot prices receded in November, they have remained in a relatively narrow trading range. However, a triangle pattern has taken shape—a formation that is typically a continuation pattern, suggesting the uptrend will continue.
A similar triangle formed in late 2007, and its breakout signaled substantial gains in the ensuing months.
In the past few days, gold has broken out of this triangle.
Gold is back above $2,700 with Monday's light MLK Day trading as investors await further direction ahead of U.S. President-elect Donald Trump’s inauguration. Economists are concerned about the potential impact of policies he has promised to start enacting on day one and whether these policies will be inflationary in the short or long term.
President Trump's plans to extend tax cuts could stimulate spending but, if they increase the deficit and federal debt, could also drive interest rates back up depending on how the Fed responds.
Regardless of the direction of the new administration, acting to preserve your wealth rather than reacting to short term market drivers is the best way to Keep What's Yours.
$2,800 is the next level to be tested in order to confirm the breakout, and savvy investors should take advantage of gold below that key technical level while it's still possible.
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