Park Avenue Numismatics
5084 Biscayne Blvd, Suite 105
Miami, FL 33137
Toll Free: 888-419-7136
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Over 30 Years Experience
Park Avenue has over 30 years
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Rare Coin and Precious Metals.
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Why gold prices topped $1,600 and may soon hit a more than 7-year high
MARKETWATCH-- "Gold prices surpassed $1,600 an ounce on Tuesday and analysts believe the precious metal has the fuel it needs to climb to its highest level in more than seven years. Gold's big move on Tuesday 'isn't due to worries over a greater economic fallout from the coronavirus, but rather in anticipation of the flood of central bank stimulus that is all but guaranteed by the effects to date,' said Brien Lundin, editor of Gold Newsletter. The sharp rise for gold comes as the World Health Organization reported on Tuesday 73,332 confirmed cases of COVID-19, the new coronavirus that was first identified late last year in Wuhan, China....'From a technical standpoint, an inverted head-and-shoulders pattern in gold is pointing toward a target of $1,665, which I think is easily achievable from a fundamental standpoint as well,' he added."
