Each Week Longleaftrading.com will be providing us a chart of the week as analyzed by a member of their team. We hope that you enjoy and learn from this new feature.
Weekly Gold Report (July 22nd through July 31st)
Ben Bernanke remained in the spotlight last week when his testimony reminded global markets that FED tapering would not begin until unemployment is below 6.5% and inflation is moving above 2%. That was the third or fourth reminder of the outcome of the FOMC meeting that took place a few weeks ago. So just in case anyone forgot the message the first two times, he was sure to get the news to them from another platform.
Each week Longleaftrading.com will be providing us a chart of the week as analyzed by a member of their team. We hope that you enjoy and learn from this new feature.
GOLD REPORT FOR WEEK BEGINNING JULY 23rd
As we wind down the month of July, it should be noted that the trading ranges over the last two months have grown more and more narrow. In June, Gold prices traded within May’s range and thus far in July, Gold prices have traded within June’s range. This type of price action is fairly normal this time of year in the precious Metals, but traders are trying to figure out what will drive prices out of the narrowing range. Continue reading "Chart of the Week - Gold"→