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DGZ - Higher Highs And Pullbacks - Gold Is Sitting And Waiting For The Fed
DB Gold Short ETN due February 15 2038
The gold market is waiting patiently for the next Fed meeting. Gold has been trading in a range between $1046.20 and $1377.50 since December 2015. The correction from the all-time high in 2011 took the price of the yellow metal from $1920.70 45.5% lower from the high to the low. The $331.30 range over the past three years and one-half years caused hope and disappointment for those looking for the precious metal to resume the bull market that began in the early part of this century and took gold above the 1980 peak in 2008.