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Gold Gets Its Break

Published 05/17/2021, 11:56 AM
Updated 07/09/2023, 06:31 AM

After doing nothing but disappointing people since Aug. 6th, gold has finally accomplished what was a formidable challenge: it has pushed above both its horizontal line and its descending trendline:

Gold Chart.

The trip of moving averages is slowly turned the corner as well.

Gold's Moving Averages.

Here is a closer look at the moving averages, showing what a slow struggle it has been.

Another View Of Gold's Moving Averages.

I have long held out hope that gold would somehow shine again. We are not fully out of the woods, as gold has a knack for failing to follow through. But the long-term pattern is still absolutely intact for what could be a steady drumbeat of higher prices for years to come.

Long-Term Gold Chart.

Latest comments

bet against gold at your own peril. Just look around you how prices are going up for everything, Inflation is written all over it.
What's that chart at the end?? Doesn't look like gold.
gold will take a break after encroaching with the daily imbalance in the buyside ....is as actually reach a ATH for day, week, month...
last week you had an article about puts on GLD
haha all these so call analyst have no integrity.
Excellent cup and handle formation - I am a Gold bull since 1676/1680 level!
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