Score 7.8 (out of 10): momentum -> Gold poised to break higher, +4.2% in 2 months

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Insight:

GOLD has reached a new shorter-term high. During similar occasions, GOLD rose +4.2%, on average, over the following 2 months – based on 10 historical occasions with 8 of those showing positive returns (80% hit ratio). This buy signal for GOLD received a high score of 7.8 (out of 10).

Story:

Recently, the Chairman of the US Federal Reserve, Jerome Powell, indicated that inflation expectations have risen but not to troubling levels in front of the Senate Banking Committee – a sign that interest rate hikes, which tend to be negative for gold prices, are not imminent.

Details:

NameGOLD
ViewUp
Star (1 to 10)7.8
Target+4.2%
Time2 months
Hit Rate80%

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