Gold looks to be at the lower end of its trading range, GVZ is at the lower end of its range, also, GDX, GDXJ, and XAU look all the same touching their 50-day MA
Gold volatility seems to be near the lower end and we seem to be establishing a new base, a higher low at previous all-time highs around 1910. Looks to me we might bounce around for a while here and go higher in a few months, possibly sooner
It looks like gold is going back down to touch the channel it followed for the past two years, but I believe it will go back up soon and establish a new, steeper channel. It just went up too fast too soon, but it also has shown what it can do and what kind of profits the mining companies can achieve in this new higher gold environment.
Any doubt that gold will...
