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Dollar Break Supporting Gold – Ira Epstein’s Metals Video 2 1 2023
In the world of precious metals, gold has always held a special place as a safe-haven asset in times of economic uncertainty. As we move into 2023, gold continues to attract attention from investors and traders alike. In a recent Metals Video by Ira Epstein, an analyst with over 40 years of experience in the industry, he discusses the dollar’s impact on gold prices and provides insights into the current market trends.
One of the key points made by Epstein in his video is the importance of the US dollar in determining the direction of gold prices. Historically, gold and the dollar have had an inverse relationship. When the dollar weakens, gold prices tend to rise, and vice versa. This is primarily because gold is denominated in US dollars, making it more expensive for buyers outside of the United States when the dollar strengthens.
In the video, Epstein highlights the dollar’s recent break below a significant technical support level, suggesting a potential bullish signal for gold. He explains that a weaker dollar would make gold more attractive to international investors, as it becomes relatively cheaper to purchase. This increased demand could drive up gold prices in the coming months.
Epstein also discusses the impact of inflation on gold prices. As inflationary pressures continue to rise globally, investors often turn to gold as a hedge against eroding purchasing power. With central banks around the world adopting accommodative monetary policies to stimulate economic growth, concerns over inflation have become more prominent. In such an environment, gold tends to perform well as investors seek to protect their wealth from the erosive effects of inflation.
Furthermore, Epstein emphasizes the role of geopolitical tensions and uncertainties in driving gold prices. With ongoing conflicts, trade disputes, and political instability in various parts of the world, investors tend to flock towards safe-haven assets like gold. The inherent stability and value of gold make it an attractive choice for those seeking refuge from volatile markets and geopolitical risks.
In conclusion, Ira Epstein’s Metals Video provides valuable insights into the factors influencing gold prices in 2023. The dollar’s recent break below a technical support level and the potential for weaker dollar ahead suggest a bullish outlook for gold. Additionally, factors such as inflationary pressures and geopolitical uncertainties further support the narrative of gold as a safe-haven asset. As always, it is important for investors to conduct their own research and analysis before making any investment decisions.
She doesn't Work…? NO, IRA, she is a POS America Hater. Prickster is NO better
Beetlejuice Beetlejuice Beetlejuice…..
gold was bullish even yesterday
Ira, please take a look at the gold weekly. I noticed there is a maximum distance Gold can move away from the 18 ma. We appear to be at that approximate distance now. Perhaps you could verify prices and report back. This might be another tool in your arsenal. Thanks.
J Powell's convictions betrayed the narrative he was supposed to deliver!
He knows what's coming! The true macro metrics will require QE and rate cuts, sooner than he'd like! That is a pivot, after so much Hawk Talk, that will make Volcker look enviable!
Then do an 1/8 the next 2 meetings would have stymied everyone
Should have gone up 1/2 point