After a few weeks of strong moves, the price of gold made a small slide, and traded in a very narrow range. Silver followed the same path, enhancing the tight relationship between both precious metals.
What is expected in the upcoming week? What will impact gold and silver? Lior Cohen of Trading NRG reviews the past week and discusses everything that is expecting us now, in the video below:
Apart from the gold-silver relationship, the S&P 500 is also highly correlated. Cohen uses very informative charts in the video to show the trends in the markets.
Originally posted here.
More bond buying from the European Central Bank raises the chances of the SMP program turning into a full scale Quantitative Easing program= aka printing euros. This could push gold prices higher.
Further reading: Gold not such a precious metalGet the 5 most predictable currency pairs