Vince Lanci
Vince Lanci Articles
We've seen the gold price come off of its all-time record highs in the past few weeks. But are we at the bottom yet?
Michael Hartnett just did his latest survey of his clients and reported that they thought gold was the most overvalued it's been in the last 20 years.
Despite the 'truce' in the trade war between the US and China, China was still buying more gold on the latest price dip.
The gold price is down $109 to start the week, with the big news being a report that China and the US have agreed to cut the tariffs.
The gold futures soared through $3,200 a few weeks ago, on the way briefly past $3,500, and since then the price has traded ‘violently neutral’ around that range.
The gold price is down again this morning. And as Vince Lanci reports, a big part of the reason why is record Chinese holiday liquidations.
After a furious rally that even saw the gold futures break $3,500 per ounce, the price has been due for a pullback.
The gold price is selling off on Friday morning after an extremely volatile week. But that hasn't stopped the investment banks from continuing their gold price upgrades.
Another big move higher for gold, as well as more divergence for silver this morning. Although in the midst of it, another one of the megabanks is out today with the latest bullish Wall Street gold forecast.
The gold price reached the $3,300 level last night, and quickly demonstrated it had no longer had any need for those shackles.
