Gold Market Wire
News, analysis and commentary for gold traders and investors
Gold Market Opening
Gold Gets Ready to Take out $2,000 /.oz
October 26, 2023 - (Gold Market Wire) - The Gold Bugs are about to have their day in the sun. And it has been a long time coming. The Mid East war that s waiting in the wings was the final push that will shortly take us over $2,000. This time, we look likely to follow through to the upside. The chart pattern we described over a week ago as potential slingshot was the real deal. This formation tends to foreshadow a serious upside move - and we look like we are going to get it... above and beyond what we have already seen.
And there we have it.
Enjoy the ride...take profits when the power up-trend fails, on the trading position. Hang on to the core position. This is likely to be a multi-year move into the 2,000s and probably above.