Skip to main content

Gold Rallies But No New Highs

In the gold market, you can see how the market is coming up here. Fighting a battle? Not really. You know, if the market finished right here for the week, you got a new all-time high close. Now, when we take a look at the market, it's amazing today. Even with the attack, you couldn't get through the highs. So you've got a market, in my opinion, that wants to be bullish and move on to higher highs. Even with Israel though, it wasn't able to quite get itself up there. Is the trend up? absolutely. Higher lows, higher highs possibly; you have it so far. But if tomorrow ends up lower, you could end up with lower highs, higher lows in a stall zone.

The markets are certainly staying over the 18-day average of closes. And as I said, I'd love to see a break because I think a lot of people want to buy in the break. You're just not getting the opportunity, you're doing it up until this morning when the news broke.

About the author

Average: 3.5 (2 votes)

Newsletter Signup

GoldSeek Free Newsletters
GoldSeek Daily Edition
Gold & Silver Seeker Report
Gold Seek -- Peter Spina