Is Gold (GLD) Caught Up in the ‘Perfect Storm’?

gold coins price
Written by Mike Hammer

Gold ended on an up note Friday amid increased investor attention thanks to the coronavirus outbreak. The lack of encouraging news about the situation over the weekend brings us to the start of another week, with gold boosted to new highs in overseas markets.

For traders, the important thing to know is that most investors had little safe haven commitment at the start of this, so there is lots of money out there that may rotate into gold. It seems that rotation may well be starting. The components of what Saxo Bank is calling a “perfect storm” are laid out in today’s featured article – definitely worth understanding.

Continue reading at Saxo Markets

About the author

Mike Hammer

Mike Hammer has had a wide-ranging career, with trading and investing as continuing themes. Mike graduated with a business degree and spent years as a financial advisor, before moving to New York and to pursue a career in IT and education. For more than a decade Mike has been working with the Adam Mesh Trading Group as a stock market and commodities mentor. He’s trained over 200 individuals, spoken at several national conventions, and is a frequent contributor to educational webinars.

Mike writes The Gold Enthusiast daily newsletter, runs the Golden Hammer trading service, and participates in the Mesh Private Portfolio. He also keeps a position in international education which keeps him in touch with "the student mindset".

Mike focuses on the precious metals markets, the energy industry, and the financial sector. His motto is "Plan your trade, then trade your plan!"

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