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Gold price rally to resume after foundation akin to 1999 is built, watch USD vs. EUR disparity, says Bloomberg Intelligence

From kitco.com

Gold is building a foundation similar to the one established in 1999, and once that price base is established, the gold rally will resume, according to Bloomberg Intelligence. The price bottom established in 1999 at around $250 was so solid that gold never returned below it again. And Bloomberg Intelligence's senior commodity strategist Mike McGlone sees a similar pattern developing in 2022. McGlone pointed to gold in U.S. dollars vs. gold in euros and Japanese yen as something to keep a close eye on. "The disparity in dollar-denominated gold vs. euro-based is nearing levels that formed a lasting foundation for the ... (full story)

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  • Category: Fundamental Analysis