Silver as an investment

Why the Gold Price Could Rebound 12.8% After This Week’s Flash Crash

wallstreetexaminer.com / by  • 

This is a syndicated repost courtesy of Money Morning. To view original,click hereReposted with permission.

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.

READ MORE

The post Why the Gold Price Could Rebound 12.8% After This Week’s Flash Crash appeared first on Silver For The People.