Gold had been trending in a downward sloping channel since 2013 and has now broken out of it, presently trading at $1242.
With the sluggish USD, gold seems to be gaining strength in the short to medium term and may head higher to $ 1400 to test the long term falling trend line.
The rise in gold could be in sync with rising crude oil prices which are likely to hit $65 in the medium term.
See post http://eqtrend.blogspot.in/2016/04/brent-heading-to-65.html
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| Gold Weekly |
Update July,1 2016 :
Jim Roger's endorsement of Gold touching US$ 1400.
