Commodities Analysis by Stewart Thomson covering: XAU/USD, XAG/USD, Dow Jones Industrial Average, Gold Futures. Read Stewart Thomson's latest article on Investing.com
Friday’s PCE inflation report could be the catalyst that pushes both gold and the Dow out of these range trades.
Funds would short the metal on that dip, while millions of savvy Indians and banks would buy. From there, a Hezbollah-IDF war could create the largest short-covering rally in the history of the gold market, perhaps dwarfing the recent surge from $1810 to $2448. A negative-for-gold PCE report could see silver reach the massive $26 buy zone while gold trades at $2150.
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