Next Short-Term Target for Gold is $1,955

from King World News

After KWN exposed the lack of liquidity in London, gold and silver staged a big rally on Monday. But according to one of the greats in the business investors should look for further gains in the Metal of Kings (Gold).

Short-Term Gold Target

February 22 (King World News) – Top Citi analyst Tom Fitzpatrick: Gold: after failing to sustain the decline below the pivotal support level at $1765, the precious metal rebounded strongly to close back above a good resistance range at $1796-$1803. According to the 2012-2013 overlay, the precious metal rallied more than $250 after negating a similar horizontal support, and therefore our bias is that the rebound could accelerate towards the pivotal resistance range at $1955-$1966, which consists of the Nov 2020 and Jan 2021 highs and a 61.8% Fibonacci level.

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