by Rick Andrews | Oct 5, 2020 | Gold Nugget
Last week, gold bounced back after testing previous lows. It climbed back above the $1,900-per-ounce level, closing the week at $1,907.60 per ounce (see the following chart). With the U.S. presidential election just five weeks away, another unexpected development hit...
by Rick Andrews | Sep 28, 2020 | Gold Nugget
Gold broke out of its price consolidation pattern last week. However, instead of continuing the previous uptrend, it closed down for the week at $1,866.30 per ounce, testing the previous low of the formation set back in August (see the following chart). This decline...
by Rick Andrews | Sep 21, 2020 | Gold Nugget
Last week, we noted that gold’s price consolidation had completed a “pennant” formation. The formation extended into an even tighter consolidation last week, as gold closed at $1,962.10 per ounce (see the following chart). Since this pattern usually precedes a...
by Rick Andrews | Sep 14, 2020 | Gold Nugget
Gold closed last week at $1,947.90 per ounce. The consolidation of the price of gold has now completed a “pennant” formation (shown on the following daily chart). This pennant pattern usually precedes a breakout in the direction of the previous trend—which, in this...
by Rick Andrews | Sep 8, 2020 | Gold Nugget
Gold continued to consolidate around $1,950.00 per ounce last week, closing at $1,934.30 per ounce on Friday. This extended consolidation pattern provides a buying opportunity in the current gold bull market. After consideration of the Federal Reserve’s change of...
by Rick Andrews | Aug 31, 2020 | Gold Nugget
Gold continued to consolidate around $1,950.00 per ounce last week, closing at $1,974.90 per ounce on Friday (see the following chart). This continued consolidation may present a buying opportunity in the current gold bull market. After evaluation of the Federal...
