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Gold Update: Is Half Enough?

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etfdailynews.com

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contact@etfdailynews.com

Sent On

Tue, Mar 7, 2023 06:31 PM

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March 7th, 2023 SPONSORED AD Did you know each electric car battery requires 220 pounds of graphite

[ETF Daily News]( March 7th, 2023 SPONSORED AD ["TAKE THAT, CHINA!" USA Gains in EV Battery Arms Race]( Did you know each electric car battery requires 220 pounds of graphite - more than lithium, copper, or aluminum? China enjoyed a "near monopoly" in this vital ingredient... until the U.S. made a blockbuster announcement. Now one little-known company is set to play a crucial role in the booming $7 trillion EV revolution. [Get the full story on this new North American graphite opportunity]( [Gold Update: Is Half Enough?]( Since [my last major update in November]( the gold futures price has increased by almost 12%. At that time, most readers had chosen the bullish target of $2,089, where the price would retest the all-time high. The gold futures chart is due for an update as it has reached a significant point in the current retracement following its recent peak at $1,975. [Gold Futures Daily]( The gold futures price had been steadily rising for three months from the start of November until the beginning of February, where it reached a top of $1,975. However, the market was hit when the [“Jobs Report Dropped A Bombshell On The Markets”]( which caused a significant drop in the value of many assets, including gold. The recent price action in gold futures has been notable, marked by a sudden drop of $100 at the beginning followed by a slower decline in pace as the price retraced almost 50% and hit $1,811 by the end of February. The question is whether this loss of half of the preceding rally is enough to consider the current bounce as a reversal. In the chart above, two scenarios have been outlined for gold futures. The first scenario is… Continue reading at [INO.com]( Copyright © 2023 StockNews.com | All Rights Reserved [Unsubscribe]( [Privacy Policy]( [Terms & Conditions]( Magnifi Communities, 1 Penn Plaza, Suite 3910, New York, NY 10119

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