Gold Finds Love This Valentine’s Day

[View this email in your browser]( [Facebook]( [Twitter]( [Forward]( [Kitco Metals]( Editor's Picks [@neils_C]( What a rollercoaster of a week for the gold market. I’m sure there are a lot of traders who are looking forward to the long weekend. Just to recap: the gold market is preparing to end the week with 3% gains, its best percentage gain in two years. According to analysts, the [U.S. dollar]( which fell to fresh three-year lows is the most significant reason behind gold’s massive rally. A weaker greenback helped gold withstand bond yields that pushed to a two-year high and a recovery in equity markets as the Dow Jones Industrial Average is seeing its best week since Nov. 2016. [Gold]( rally started Wednesday and was triggered after prices dropped $12 following stronger than expected inflation data. However, the market quickly recovered and triggered stop-loss buying and short covering as near-term technical fell by the wayside. In total gold prices rallied more than $39 from its lows to its highs. The question now on everyone’s mind is: where do prices go from here? According Kitco.com’s senior technical analyst, Jim Wyckoff, said that the technical momentum behind gold could push prices back to the 2016 highs at $1,377.50 an ounce. He added that silver could ultimately advance to $18.64 an ounce. “All of these price targets are now within striking distance in the coming days, or few weeks,” he said in an exclusive report. Coincidently, gold rallied on Valentine’s Day, so may one might say, if they are corny enough, that investors fell back in love with the precious metals. We know of one investor who is definitely in love with gold: Ray Dalio’s hedge fund Bridgewater Associates. SEC filing Wednesday showed that the firm increased its stake in the world’s two largest gold-backed exchange-traded products in the fourth quarter, SPDR Gold Shares ([NYSE: GLD]( and iShares Gold Trust ([NYSE: IAU](. Speaking of love and Valentine ’s Day, U.S. consumers were expected to spending a near-record $19.6 billion on gifts for the romantic holiday. Jewelry was expected to be the hot item for the holiday as consumers were planning to spend $4.7 billion. Kitco News played cupid and found some beautiful gifts for that special someone. Keep this link on hand for next year. That’s it for now. We recommend you take the long weekend and recover from the excitement from the previous week watching the Olympic Games. For all those in the U.S., happy Presidents’ Day. Have a great weekend Related Stories [Why Gold, Silver Rallied Today, And Where To From Here]( Gold, Silver Rallied Today, And Where To From Here]( [The Bulls Are In Charge Of The Gold Market: Key Levels To Watch]( Bulls Are In Charge Of The Gold Market: Key Levels To Watch]( [Kitco Video News]( [Gold Prices Are Exploding But Can It Keep it Up? Expert Weighs In]( Prices Are Exploding But Can It Keep it Up? Expert Weighs In]( Could See $1,400 In Two, Three Months" - Vince Lanci]( [Kitco News]( [Gold To Head Lower After This Rally, Dropping To $1,100 By Year-End - OCBC]( [Silver Is The Metal To Watch As It Plays Catch-Up With Gold - Analysts]( [Gold Prices: Investors Don’t Fear 3% Bond Yields]( [Don't Overlook Geopolitical Risks That Could Give Gold A Boost - Saxo Bank]( [Analysts See Potential For Further Gains In Palladium, Platinum Prices]( [Paulson Maintains Gold Position During 4Q As Price Rises]( [Ray Dalio's Bridgewater Increased Gold Holding In Q4]( [Barrick Reports 4Q Net Loss On Impairment But Adjusted Profit]( [Goldcorp Reports Sharp Rise In 4Q Net Profit]( [Auryn Resources]( [Wall St. Returns To Bullish Short-Term Price View]( [MarketSlant]( [Can Gold and Silver Reduce the Risks of Higher Inflation?]( Gold and Silver Reduce the Risks of Higher Inflation?]( [CPI Strong? Here's Why Gold Dips Should Be Bought]( [Is American Energy on the Verge of a New Golden Age?]( [An Olympian's Guide to the Market Selloff: Seeking Rewards In High-Risk Situations]( [Kitco Gold Chart]( [Kitco Gold Chart]( For Pete's Sake Peter Hug Director, Global Trading phug@kitco.com [Gold Consolidates As Chinese Lunar New Year Begins]( Technically Speaking Jim Wyckoff Market Analyst and Columnist jwyckoff@kitco.com [Gold At 3-Week High As Bulls Cap A Very Good Week]( Promotion [Great Deals]( This message was intended for {EMAIL} , as a subscriber and/or customer of Kitco. [Advertising]( | [Update Your Email Preferences]( | [Privacy Policy]( | [Contact us]( | [Unsubscribe]( All logos, brand names and/or trademarks that appear here are the property of their respective copyright holders. © 2018 Kitco Metals Inc. 620 Cathcart, Suite #900, Montreal, Quebec, H3B 1M1 Canada.