Gold price in the Coming Months!
Gold and Silver Sentiment to Rise Sharply ABC Bullion Market Update views a gold and silver sentiment to rise sharply in the coming months! In the Precious Metals Commentary, the bullion said, gold continues its strong recovery, but hit the resistance discussed in last week’s commentary (…Resistance in gold should come in at US$1888-1910…) with gold making a high so far at US$1896. There is distinct resistance at the US$1908 level. The Dollar Index is a big factor behind gold’s move as correlations between gold and Treasury-Inflation Linked bond yields (TIPS) weaken relative to early 2020. The DXY’s move to 89.73 takes it very close to the 50% retracement of the move from the 2011 lows to the 2017 high at 88.20, and along with medium-term target to 89.90 and 89.60 level, there is the suggestion that the recent move downwards in the Dollar index may pause soon. There are signs that non-commercials longs are tentatively trying to increase their exposure to the DXY from the very low l