Prices near ‘golden cross’ signal potential upside

  • Gold futures on track to settle at record high
  • Prices edging closer to a ‘golden cross’
  • Gold for February delivery climbed by $19, or 0.9%, to $2,076.20 an ounce
  • Gold futures have seen a steady climb since mid-November
  • The golden cross and proximity to all-time high suggest further gains in the immediate term

Gold futures are on track to settle at a record high, with prices edging closer to a ‘golden cross’ that signals the potential for further upside in the precious metal. In Friday’s session, gold for February delivery climbed by $19, or 0.9%, to $2,076.20 an ounce. This marks a steady climb for gold futures since mid-November. The golden cross and the proximity to an all-time high suggest that further gains are likely in the immediate term.

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Private Companies:
Key People: Brien Lundin (Editor of Gold Newsletter), Lukman Otunuga (Manager, Market Analysis at FXTM), Jerome Powell (Fed Chairman)

Factuality Level: 7
Justification: The article provides information about the current price of gold futures and the potential for further upside in the precious metal. It includes quotes from experts and mentions technical indicators. However, the article lacks in-depth analysis and context, and it does not provide a balanced view of the topic.

Noise Level: 3
Justification: The article provides relevant information about the current price of gold and the potential for further gains. It includes quotes from experts and mentions key indicators. However, it lacks in-depth analysis and does not provide actionable insights or explore the consequences of gold prices on other markets or individuals.

Financial Relevance: Yes
Financial Markets Impacted: Gold futures market

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article discusses the potential for further upside in gold prices and the possibility of reaching a new all-time high. There is no mention of any extreme events or their impact.

Reported publicly: www.marketwatch.com