( Kitco News ) – The gold market continues to hold critical support above $1,850 an ounce; however, according to one market analyst, it might be only a matter of time before this level gives out, and investors see lower gold prices.
In a telephone interview with Kitco News, Carley Garner, founder of the commodity brokerage firm DeCarley Trading said that there are a lot of mixed technical signals in gold and silver, but ultimately she is bearish the precious metals as too many investors are discounting the U.S. dollar strength.
"I believe that the U.S. dollar is bottoming so any rally in gold and silver should be sold," she said.
Garner said that the yield differential between the U.S. and other countries will continue to provide support for the U.S. dollar."The Federal Reserve is not expecting to raise interest rates anytime soon, but even at their current levels they are still […]
November 12, 2020 (updated November 12, 2020) Published by StockMan