Equities Throwing A Party, Metals Didn't Get The Invite – Triland Metals

(Kitco News) - As gold struggles to break above the $1,200 mark, analysts at Triland Metals say sentiment remains poor.

“Overall we feel that a long term base is being formed here paving the way for the next bull leg in the super-cycle; but current conditions favor a slip to the lower end of the range,” they say in a research note Wednesday afternoon.

“Bubbling stock markets and an impending reversal of ultra-low interest rates in the U.S. are shaping up areas of uncertainty as we move into the middle of the year – it is uncertainty that gold revels in so keep an eye on the technical picture which changes if we set a fresh high above $1308,” they add.

For now, they say the “party is going on over in the equities markets,” and there isn’t much to get excited about in the precious metals space.

Courtesy: Kitco News