After a lengthy consolidation in gold, there is an important bull catalyst for the metal of kings, plus key levels to break on the upside.
Gold Bullish Again?
November 20 (King World News) – Top Citi analyst Tom Fitzpatrick: “Where does Gold look bullish again? IF we see lower real/nominal yields and softer equities, Gold should benefit…
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Expect Lower Yields
There are increasing signs of a topside failure on US yields with interim support levels now giving way. Our bias remains for lower yield levels overall and an eventual bull steepening in the 2’s, 5’s curve.
Gold Bullish If Key Levels Broken
Good resistance (for gold) at $1,505-$1,520 needs to be overcome to open up for gains above $1,600 and possibly towards $1,700 again. Interim resistance is met at $1,555-$1,557 (see below).
Expect $1,600-$1,700 Gold After Correction Ends
Cashin – We’re Seeing Global Flight To Safety
READ THIS NEXT! Art Cashin – We Are Seeing A Flight To Safety Globally CLICK HERE TO READ.
***KWN has released Gerald Celente’s powerful audio interview discussing what investors should do to prepare themselves for the coming depression, including what to expect from gold, and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
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