Precious-Metals Rally Teeters as 100-Day Sign Adds Angst: ChartBy
Precious-metals bulls nervously awaiting the Federal Reserve’s next move may have another reason to worry. After surging through the first four months of 2016, gold and silver -- as well as platinum and palladium -- dropped in May and are now trading near or below their 100-day moving averages. “We’re right on the cusp here,” and a string of closes below that level “could certainly be a change in the technical environment,” said Bart Melek, the head of commodity strategy at TD Securities in Toronto.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.