Gold Continues To Shine As 2018 Begins

(Kitco News) - Gold continues to findbuying interest on the back of continued dollar weakness and growinggeopolitical rhetoric from North Korea and Iran. An uptick in manufacturingdemand out of China continues to help the industrial metals, and the current cold snap in the U.S. Northeasthas helped maintain oil above $60. Technically,gold looks healthy and a break to the $1,322 level is possible, but the recent run is vulnerable to acorrection. The $1,302 level should provide support but the key to continuedmomentum remains dollar weakness. The euro has broken above the 1.20euro/dollar level and a serious correction in gold will likely not occur untilthis trend reverses.

By Peter Hug

Contributing tokitco.com

Follow @KitcoNewsNOWnewsfeedback@kitco.comwww.kitco.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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