Gold breaks out!

Gold broke out of its “pennant” formation, closing the week at $1,222 per ounce. Investors had a good opportunity to add gold to their portfolios while it was in this consolidation pattern for the past five weeks (see chart). As we predicted, this consolidation was...

Is gold primed for a breakout?

Last week, gold prices closed at exactly $1,200 per ounce, the price level that has provided strong support for the past five weeks (see the following chart). This technical consolidation pattern eventually sets up a breakout. The breakout will probably be to the...

Outlook for gold presents buying opportunities

Gold remained in its consolidation pattern, ending the week around $1,200 per ounce—a price level that continues to provide strong support. This was despite the Fed’s announcement on Wednesday (9/26) that it would be raising interest rates and planned four more...

An opportune time to buy gold for risk protection

Gold ended the week up $5.70 per ounce, closing at $1,198.80. As the following chart shows, gold remains in a consolidation pattern. The $1,200-per-ounce price continues to provide strong support. This consolidation gives investors more time to strengthen their...

Is it time to buy gold to protect against risk?

Gold ended the week down $3.10 per ounce, closing at $1,193.10. As the following chart shows, gold has entered into a consolidation pattern. The $1,200-per-ounce price has proved to be a strong support level. With the U.S. stock market at historic highs and some...

Have we found the U.S. dollar’s kryptonite?

Gold continued to hover around the significant $1,200-per-ounce level last week. It closed at $1,196.20 per ounce, up $4.60 for the week. This was good news because the U.S. dollar gained even more strength following Friday’s positive employment report. Investors...