Last evening we showed a chart where gold has been trading in a range over the past three weeks, consolidating between $1265 and $1290. But perhaps what is most interesting about this is that the price has been able to bounce and stay above its 100 and 200 day moving averages despite the fact that demand for the precious metal is at an 8 year low.
Gold isn’t so shiny anymore. Globally, demand for the precious metal has fallen to its lowest level since late 2009, according to the World Gold Council. In the third quarter of 2017, demand for the haven asset was 915 metric tons, 9% lower than a year earlier. - QZ
1 comments:
Death of the USD as Reserve currency and rise of gold:
http://www.independent.co.uk/news/business/news/the-demise-of-the-dollar-1798175.html
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