GOLD

Gold’s a touchy subject in the blogosphere.  I have nothing against stacking.  Holding some of the shiny metal — whether for fun, inflation protection or the coming zombie apocalypse — probably makes sense.

Most serious gold bugs will tell you that the futures and ETFs are not the real thing.  I get it.  But, it’s the GC futures we concern ourselves with, here.   With that said…

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updated: Sep 6, 2017

As the great philosopher would say, that escalated quickly. Yesterday, gold reached our purple target detailed in our last update [see: Gold, Ready to Shine?]

As we pointed out in June, 1348.60 is a key price level, as it represents 2 channel lines and the .886 retracement of the plunge from 1377 in July 2016…If GC is able to remain atop its SMA10/20 for the ride up to 1348.60, by all means ride along.

We’ll take a quick look at what to expect next.

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