Guess why that is?https://t.co/rtAMmuaBUG
— Patrick Karim (@badcharts1) May 3, 2023
Gold and Silver Reach New Three-Week Highs As Fed Hikes Rates
Prices for precious metals divided Wednesday, with gold and silver rising for another round of nearly three-week highs while platinum and palladium declined. Gold for June delivery increased by $13.70, or 0.7%, to settle at $2,037 an ounce on the Comex division of the New York Mercantile. For a second day, this marked the highest…
Gold Unlikely to See a Deeper Consolidation, Strength to Continue: TDS
Could a new bull market in Gold kick off at $2,000? Strategists at TD Securities discuss the yellow metal outlook.
Silver Jumps Out of the Gate for the Week
The bullish pennant formation seen in the market is a positive sign for traders, opening up the possibility of a move all the way up to the $31 level based on the “measured move.” While it may take some time to achieve this level, technical traders are likely to pay close attention to the pennant’s suggestion of higher levels.
“I’m Really Worried About the Deficit Situation in the United States.”: Gundlach
“I’m really turning more bearish at this point in time,” says @DLineCap’s Jeffrey Gundlach. “I’m really worried about the deficit situation in the United States.”
The Path to Full Stagflation
“The US economy looks to be pointed in a troubling direction. Federal unemployment data shows record low unemployment, but state-level data paints a different picture: one where the current ‘stagflation lite’ conditions could soon become fully stagflationary.” ~ Peter C. Earle