The gold price is now flirting with critical support levels (532-535), and it faces a possible short- to medium-term trough one that could even breach the 500 level.
More Quotes from Jon Nadler:
Aside from the amalgam of worrisome news items coming from many corners of the globe ... the investment community is also looking with apprehension at economic news and has nothing to smile about.Jon Nadler
Gold is as much a mirror of current human events as it is a barometer of future asset values.
Jon Nadler
Although gold remains vulnerable to at least another bout of selling as we head into next week, the fact that it erased Thursday's losses demonstrates (for the time being) the fact that this bull is alive and kicking.
Jon Nadler
The dollar took enough of a hit to convince traders that gold was a safer place to park funds in for the next few sessions.
Jon Nadler
We stand by the assertion that a quarter percent better fed funds rate will NOT make the critical difference to medium-term andor long-term gold investors.
Jon Nadler
None of this probing to the downside will negate the fundamental nervousness the market continues to experience, and the hair-trigger volatility will continue to be an integral feature of the metals complex as news keeps coming at it.
Jon Nadler
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