OTCPK:SPVEF - Post by User
Post by
profittaker1on Jul 14, 2017 12:45pm
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Post# 26469769
The Gold Price
The Gold Price
looks very promising from a technical standpoint after breaking above $1230. A number of events have been supportive of the gold price in the last 24 hours including Janet Yellen's testimony to Congress, weak CPI numbers out of the USA and quiet bank earnings. The next major resistance points for gold are $1240 then $1260. Gold stocks are on sale today. Clearly there is a lack of recognition in the market of a near term bottom having already occured in gold and when the market catches up next week, gold stocks should appreciate materially given their leverage to the gold price. It might take breaking $1240 for the market to catch up.