Gold positioned to reach new highs

Gold prices hit $1,800 per ounce last week, a level last seen back in 2011 (see the following chart). This occurred as COVID-19 cases in the U.S. increased, causing many states to pull back on reopening. For the second quarter, gold posted a gain of nearly 13%. This...

Analysts forecast new highs for gold

Gold prices reached a seven-year high last week, passing the previous high set back in mid-April. That high was followed by a trading-range consolidation pattern that lasted until last week (see the following chart). Gold prices now appear to be preparing to break out...

Is the U.S. dollar heading for a crash?

Gold moved up toward the top of its current trading range last week, building support within the current bull market. It closed the week at $1,753 per ounce (see the following chart). In last week’s article, we looked at the historical inverse relationship between the...

When will gold prices peak? Watch the U.S. dollar

Gold moved from the lower end to the middle of its current trading range last week. It closed the week at $1,737 per ounce. If this consolidation continues, it could provide support for more moves up in this bull market. To determine when gold prices are likely to...

Does the gold rally still have legs?

Gold stayed inside the trading range it has been in for the last eight weeks, closing last week at the lower end of the range at $1,688.00 per ounce. This consolidation can now provide support for another run-up in the current gold bull market. Assuming that we get...

Gold support holds

After breaking through the resistance line established over the previous weeks, gold prices held at the same line extension, which had now become a support line (see the following chart). Gold resumed its uptrend, finishing last week at $1,751.70 per ounce. One factor...