wallstreetexaminer.com / by Peter Krauth •
The gold price has been going strong over the long term, up 7.7% to $1,241 so far in 2017. But if you just look at its short-term price action, you’d be hard-pressed to find many bulls.
It’s frustrating to watch gold prices and feel like they’re not making any headway. And that’s especially true in the current context of a weakening U.S. dollar, which normally helps boost the metal…
While the dollar has fallen from 97.30 to 95.76 this week, the price of gold is also on track for a 1.2% weekly loss.
Yet if you look at gold’s price behavior from a technical perspective, there’s evidence that it’s actually holding up exceedingly well.
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