Gold breaks out following soft jobs data but could still struggle to get to $4,500 - KITCO
Gold breaks out following soft jobs data but could still struggle to get to $4,500 - KITCO
Source: KITCO
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DW NOTE
Gold broke through resistance on weak payrolls, but Kitco thinks $4,500 is a stretch. They're wrong. The Hormuz chokepoint has held oil shipping hostage for weeks, the Fed is printing at 3.5% while deficit spending runs $1.4 trillion through nine months, and two major war zones just went quiet while a third grinds on. Gold isn't struggling to find reasons — it's struggling to find sellers.