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Gold: On the Verge . . . or Nearing a Cliff

Gold has had difficulty sustaining recent rallies and remains trapped in a $50 trading range.  At the lower end, incremental physical demand has so far kept the price above its recent floor around $1175 an ounce . . . but selling by funds and other institutional traders of gold ETFs and “paper” proxies has limited attempts to rally. Whatever improvement in sentiment and upward momentum that may have resulted from this year’s encouraging first-quarter start has now dissipated.  The longer gold lingers in its current range the more difficult it will be for the yellow metal to break out on the ...

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