Raymond James Bullish On Gold?

Raymond James Bullish On Gold? from King World News

With the price of gold near $1,300, Jeffrey Saut’s partner at Raymond James is bullish on gold.

Raymond James Bullish On Gold?
October 11 (King World News) – Here is a portion of what Jeff Saut’s partner Andrew Adams wrote today:  
S&P 500 at Probable Resistance – We mentioned last week that our best guess for the next resistance zone would be the red line in the chart below that has a history of importance as both resistance and support going back to last November. Well, so far that appears to be playing out, with the resistance line helping to cap the S&P 500 over the last few sessions. That line remains the ceiling for the index until it proves it can break out above it (see chart below)…


10-Year U.S. Treasury Hitting Resistance Again
Monitoring the Financial sector is even more important because it has been trading in lockstep with a 10-Year U.S. Treasury rate that is once again hitting resistance at the 2.4% level. After falsely breaking down below 2.1% back around the start of September, the benchmark treasury rate has steadily climbed higher, but that 2.4% zone remains the ceiling until proven otherwise. Above there, 2.6% would be the next likely major test level (see chart below).


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King World News

Interviews with market experts from around the world with a focus on precious metals.