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Mar 01 - 05:55 PM

Traders Are Falling In Love With Gold Again

By Jeremy Boulton  —  Mar 01 - 05:00 PM
  • Demand for speculative assets like stocks and crypto has surged

  • Gold has been a popular gamble since October

  • Gold rocketed to a record high at $2135 in Dec becoming overbought

  • A correction that largely unfolded above 2k has followed

  • Gold has risen $1984 to $2057.29 since Feb 14 (Valentine's Day)

  • Rally is stretched 20-day Bollingers but more scope on weekly/monthly charts

  • Top 20-week Bollinger bands is $2084, peak monthly bands $2165

  • Targets above record peak are $2174, $2229 and $2299

  •  

Source:
Refinitiv IFR Research/Market Commentary

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