Gold Stocks: Modest Buying Opportunities Amid Rising Rates

Gold has entered a buy zone, but it's not necessarily a 'key' one.

The $4200-$3941 area is considered a buy zone for modest-size buying of gold, silver, and mining stocks. However, the $4000-$3900 range appears more enticing.

The drop in prices can be attributed to selling ahead of China's Golden Week holiday, US-Iran tensions, and rising interest rates.

Fibonacci enthusiasts should take note of the 50% retracement of the summer rally in miners. Gold investors are advised to buy positions while keeping dry fiat powder for potential volatility around upcoming inflation reports.