By Nigel Somerville | Saturday 19 February 2022
Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Gold ended the week at a tantalising $1899, up from last week’s $1859 and right on the technically critical $1900 mark. In fact the weekly closing spread, according to Kitco.com, was $1899.2 – $1900.2. The general view amongst technical commentators is that if Gold crosses above $1900 we are in for some fun, but some of the current strength is down to a war premium as tensions regarding Ukraine are at boiling point. Will Putin go in or won’t he? And if he doesn’t, then the war premium will have been temporary – I would expect Gold to fall away at least a little. I’d rather not think about the scenario if he does….
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