Sep 6, 2017

Gold: $1,300 Is Now Support

Gold to me still looks pretty strong. We broke out above $1,300, we didn't have a huge surge but we held 1,300 and we didn't go back below it. We've held here all week and to me 1,300 is now the support right what used to be resistance is now support. Where is the next resistance? I would guess up around 1375-ish which I think was about the high last summer. (SPDR Gold Trust ETF (GLD), Market Vectors Gold Miners ETF (GDX), Market Vectors Junior Gold Miners ETF (GDXJ), Barrick Gold (ABX), Newmont Mining (NEM))