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A-Mark Bullion Update

Blog Feb 5, 2016

A-Mark-Precious-Metals-IncAfter failing two days in a row at its 200 day moving average, gold finally decisively broke through it yesterday and made impressive gains. Shorts scrambled to cover positions as the 200 DMA gave way and gold closed right near the highs of the day. With gold having broken out of a key technical barrier, investors and traders helped continue the upward momentum today as they lifted the market even higher. The next target in gold is now $1,190, the previous high from October 2015 as well as the high dating all the way back to June of last year. While the market has clearly made some noteworthy moves over the last few days, I’m not overly excited just yet. I feel like the only constant in the market over the last few years has been that any drastic move in the precious metals has been short lived, lacking follow through and ultimately disappointing investors. Given that equities have performed so poorly this year so far though, perhaps gold’s recent gains will put it on the radar of mutual funds and institutional investors whose returns in more traditional assets have been underwhelming. These would be the kinds of new players to the market that would have the potential to give gold extended gains over the coming months.

Thumbnail Photo We believe that everyone deserves a properly developed strategy for financial safety.

Lynette Zang

Chief Market Analyst, ITM Trading

Sources & References In This Article

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