China’s Lunar New Year which sees a rise in gold purchases🌏 "...
Why gold prices are likely to reach a record high in 2024
China’s Lunar New Year, which sees a rise in gold purchases, begins late next week..."
https://www.marketwatch.com/story/why-gold-prices-are-likely-to-reach-a-record-high-this-year-f7f93c74
Interestingly
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Weyer said he believes that the gold market has effectively repriced the rate path at this point.
“I think it's digested the news and the data, and I don't want to say ‘stabilized’, but gold found where it should be in relation to that latest Fed forecast,” he said. “That's my feeling on it. I think we're going to be a little rangebound.”
“The big X factor is world events,” he added. “Things seem to be cooling down a bit, but any world news, something kicking up again in Gaza or anything along those lines, could have a flight to quality or fear-factor trading going on.”
Weyer said he thinks gold will remain drawn to the general area of $2,000. “I think it's not going to want to move too far away from there,” he said. “There are still some inflationary concerns out there that are enough to prop this up. But on the upside, I think $2,150 to $2,200, we'll go test that again on sustained world event news.”..."
https://www.kitco.com/news/article/2024-02-02/wall-street-bets-lower-gold-prices-main-street-sees-gains-next-week
Sabre Gold Mines needs the price of GOLD to climb to have any hope of...