Wednesday , May 18 2022
Home / Tag Archives: golden cross

Tag Archives: golden cross

Gold Is Catching a Bid on Pandemic and Inflation Fears.

Gold notched its third straight week of higher prices as the yield on the 10-year Treasury dipped below 1.3% for the first time since February. The highly transmissible Delta variant was also ruled the most dominant strain of coronavirus in the U.S., threatening economic growth and raising uncertainty about the next interest rate hike. Against this backdrop, the yellow metal is now flashing a golden cross, meaning the 50-day moving average is trading above the 200-day moving average. In the...

Read More »

Keep Calm and Stay Long: This Gold Price Correction Is Normal and Healthy

In the nearly six years since Greg Abbott has been governor of Texas, the Lone Star State has been the number one destination for U.S. businesses looking to relocate. That includes California businesses. In 2018 and 2019, as many as 660 California-based companies pulled their stakes up and moved to greener pastures in Texas, where the cost of doing business is roughly 10 percent below the national average. Next up is Tesla. The electric vehicle (EV) company is currently in the process of...

Read More »

A Gold Correction Was Expected After Nine Straight Weeks of Gains

The price of gold had its first down week since early June, ending a spectacular nine-week rally, the likes of which we haven’t seen since 2006. The yellow metal briefly fell below $1,900 an ounce on Wednesday as stocks neared their all-time closing high and the 10-year Treasury yield jumped on record supply. Wednesday’s $38 billion auction of 10-year government bonds was the largest in U.S. history. As I shared with you last month, gold was looking overbought at more than two standard...

Read More »