Gold price tumbles $40, will it collapse back to $1,700? Watch these warning signs – Jim Wyckoff


Gold fell 2% on Thursday, but this is just reflective of routine profit taking, said Jim Wyckoff, senior analyst of Kitco News.

Importantly, the U.S. dollar has moved up on Thursday’s session, likely as a consequence of having fallen for too long, Wyckoff said.

“Importantly, the price uptrend in gold on the daily chart remains in place. The bulls are still in firm technical control,” Wyckoff told David Lin, anchor for Kitco News.

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