Gold Continues to Face Selling Pressure According to Ira Epstein’s Metals Video on 2/22/2024

by | Mar 14, 2024 | Gold IRA | 2 comments

Gold Continues to Face Selling Pressure According to Ira Epstein’s Metals Video on 2/22/2024




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In his latest Metals video released on February 22nd, 2024, Ira Epstein provides insights into the current state of the gold market. According to Epstein, gold continues to be under selling pressure, indicating a bearish trend in the precious metal.

Epstein points out that gold has been struggling to break through key resistance levels, making it difficult for the market to rally. Despite recent attempts to push higher, gold has faced strong resistance, leading to increased selling pressure. This has resulted in the price of gold remaining stagnant or even declining in some cases.

One of the factors contributing to the selling pressure in the gold market is the strength of the US dollar. A strong dollar typically leads to lower gold prices, as investors flock to the currency as a safe haven asset. With the US dollar showing signs of strength, investors are less inclined to hold onto gold, causing prices to fall.

Additionally, Epstein highlights the impact of geopolitical tensions on the gold market. While political turmoil and economic instability can often drive up demand for gold as a safe haven asset, recent developments have not had a significant impact on the price of gold. This suggests that other market factors are currently outweighing geopolitical concerns in driving gold prices.

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Overall, Epstein’s analysis suggests that gold is likely to face continued selling pressure in the near term. However, he also points out that market conditions can change quickly, and investors should closely monitor key levels and indicators to stay informed on potential shifts in the market.

In conclusion, while gold may be under selling pressure at the moment, it is important to keep a close eye on market developments and be prepared for any potential changes in sentiment. As always, it is crucial for investors to conduct their own research and analysis before making any trading decisions in the volatile gold market.

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2 Comments

  1. @richarddudley444

    Sheeple want crypto,not gold. Gold started trading on COMEX in August 1974,so this is 50 years of gold trading. Chalk boards at 81 Broad Street is how prices were recorded.

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