Avery Schumer
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Avery Schumer in Commodities,

Gold’s rallying — but should investors still be wary?

Metal tries for first yearly gain in three years. Gold on Thursday turned higher year to date, and some analysts say that the metal’s recent moves may indicate an end to its long-term downtrend.

Ken Ford said “there is a good chance that the “downtrend has reversed” as now gold has cleared some very important technical levels at $1,156 and $1,169. Gold may be overbought in the short term, he said, but “the latest move is very positive for further gains into year-end and beyond.”