Jan 16, 2018
- Gold and related investments are off to a very positive start in 2018. I don’t expect any major pause in the action until China’s Golden Week holiday celebrations get underway.
- Chinese gold dealers will be on holiday this year from about February 15 to February 21. This creates a significant vacuum in gold demand. As dealers and Chinese gold markets close, the gold price tends to soften in global markets.
- The good news is that gold has a rough general tendency to rally strongly ahead of the Golden Week festival, and that’s happening right now.
- Please click here now. Double-click to enlarge. Gold has reached the outer boundary of my $1340 - $1365 resistance zone.