There is even the ambitious target of $1,105 once we are through these levels. There is masses of uptrend support too providing additional confidence that Gold is a one way bet above $660. Once we break the 2006 high of $725 we will be reading headlines everywhere ‘Gold hits 27 year high’ and then the chances are we may start to see some panic buying pushing prices higher.
David Linton CFTe, MSTA
David is Chief Executive of Updata plc (www.updata.co.uk) and editor of Tipstracker.com