Gold’s Best Day In 2 Years Sees 2.5 Percent Gain As Global Stocks Sell Off – This Week’s Golden Nuggets
-- Published: Friday, 12 October 2018 | Print | Disqus
News, Commentary, Charts and Videos You May Have Missed
Here is our Friday digest of the important news, commentary, charts and videos we were informed by this week.
Market jitters and volatility have returned this week and the sell-off in US government bonds led to sharp falls on Wall Street centered on the very overvalued tech sector and the NASDAQ.
(Bloomberg)
Gold is 1.3% higher for the week as of mid-morning European trading today. It needs to close positively this week in order to confirm a possible trend change.
A lower close this week, despite the significant volatility, would be bearish in the short term and suggest that gold needs a period of further consolidation before the bull market can resume in earnest.
It is too soon to tell if this week marks the much-anticipated turning point for gold but it certainly felt like an important week in the markets.
We had an excellent client event in our new offices in Dublin on Wednesday evening and over 60 clients attended and enjoyed presentations by Mark O’Byrne and Stephen Flood. There was a very interesting Q&A session with some very informed clients. It was the first of many events – Galway, Cork, Manchester, London, NYC etc in the coming months.
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