Spot Gold surged on Tuesday, rebounding from a five-session decline after the Federal Reserve’s announcement to boostlending eased fears over a crunch in liquidity. It wasn’t safehaven buying that drove gold prices higher. We know that because Treasury and the U.S.Dollar are the true safehavens.
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Additionally, U.S. equitymarkets recovered after Monday’s steep decline, after the Fedstepped in and putting moreliquidity into the economy. This triggered the relief rally in gold because buyers didn’t have to worry about selling tied to stock market margin calls.
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If you’re still following analysts who believe gold is a safe-haven, or don’t understand that gold can rally when stocks, interestrates and the dollar rise, then stop. You can only hurt yourself. If you’re reading analysts who are inflexible and unwilling to think outside the box once in a while then you’re going to miss some bigmoves once in a while like the one wesaw on Tuesday.
Disclaimer
This article is intended for educational purposes only. The views and opinions expressed are those of individual analysts or brokerage firms and do not represent the views of GoldSilverReports.com. Investors are strongly advised to consult certified financial experts before making any investment or trading decisions.
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