Gold is Inches from Huge Breakout
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Precious Metals surged today led by Gold’s 2% gain to $2096. It needs to clear $2100 convincingly to confirm an epic breakout.
Gold’s 4-year handle has two cup and handles within it, that project to $2350 and $2500.
Silver should outperform Gold in this macro environment but Gold has the advantage in the near-term due to better technicals.
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Jordan Roy-Byrne, CMT is a Chartered Market Technician and member of the Market Technicians Association. He is the publisher and editor of TheDailyGold Premium, a publication which emphasizes market timing and stock selection, as well as TheDailyGold Global, an add-on service for subscribers which covers global capital markets. He is also the author of the 2015 book, The Coming Renewal of Gold’s Secular Bull Market which is available for free. TheDailyGold.com was recently named one of the top 50 Investment Blogs by DailyReckoning and WalletHub.
