Gold Market Wire
News, analysis and commentary for gold traders and investors
Gold Market Update
Gold Closes in on $2,000 an Ounce
August 4, 2020 - (Gold Market Wire) - Gold now has the round number of $2,000 now firmly in its sights, as the Silver market jumps over 4.5% on the day. The 'lessor' of the two monetary metals continues to make its voice heard and is, yet again, proving that the basis of a true bull market in Gold demands that Silver rise strongly. It is doing just that today.
Yesterday's retrenchment is now in the rear view mirror as the market powers ahead - with Gold set to touch the magic number of $2,000 shortly. Now the question becomes - do we high-tick here and pull back, or can we stay above the line? For the moment we are skipping along the top of the resistance line.The last time we did that, we broke above and headed higher.
The Precious Metals arena is on fire today. That's been happening a lot lately.