Barrick Gold Corporation (NYSE:GOLD),
Golden Star Resources (NYSE:GSS), and
Franco-Nevada Corporation (NYSE:FNV)?
Many parts of the stock market look weak, but that s not the case with the gold companies. A number appear to be on the verge of a breakout because gold could be about to make a large move higher.
What To Know: On Aug. 5, 2020, the price of the metal broke the $2,000 per ounce level. It trended lower until March when it found support around $1,685. Since then, it has staged a rebound.
Now gold is trading around $1,780. There’s resistance at this level and it has put a ceiling on the price. If this resistance breaks, gold could break out and make a large move higher.
Raiffeisen und ZKB entschlüsseln DNA von Gold
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Jan 6, 2021, 6:39 AM – Updated on Jan 6, 2021, 1:47 PM
Word Count: 468
The famously volatile digital coin advanced as much as 6% to $35,842, surpassing the previous high set Jan. 3, and was trading at $34,988 as of 6:47 a.m. in New York. It had plunged as much as 17% on Monday. Bitcoin quadrupled in 2020.
A range of factors have been cited for Bitcoin’s ascent, showing how hard it is to pinpoint the proximate cause for the latest bout of volatility. Some traders pointed to a JPMorgan Chase & Co. long-term price forecast of as much as $146,000, while others cited the overall risk-on mood in global financial markets.
Bitcoin climbs above $35,000 to touch a fresh record as wild rally continues