A great week for stocks and you can find out a bit more on my thoughts about that at my free blog and I’m sure you’ll enjoy my short thoughts.
The metals continue to show some mixed strength, and weakness, but the week ahead should tell us if a low is in fact in, or if more basing is needed.
Gold gained 2.73% as we moved through the first week of Chinese New Year.
Not bad action at all but gold still can’t get, and stay, above $1,220.
A move above said level would be positive but I see the more likely scenario to play out being a chop between $1,160 and $1,220 until May or so.
Time will tell.
This post was published at GoldSeek on 5 February 2017.
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