Gold is building up to the next rally

Michael Gable

At the beginning of the year gold was trading at about US$1060 an ounce. It then embarked on a fantastic rally that saw it move above $1360 in the days after Brexit. Since then it has failed to go higher. The gold price has returned over 25 per cent this year, and gold stocks have done even better than that. The lack of movement during the last several weeks has seen many analysts get bored with gold and declare the rally to now be over. In my opinion, they are wrong. This is the next trading idea for 2016. (VIEW LINK)


Michael Gable

Michael Gable is managing director of Fairmont Equities. We are a small boutique advisory that uniquely combines both fundamental and technical analysis. As a result, our analysis is featured regularly in the finance media such as the Australian...

Expertise

No areas of expertise

gold technical analysis

Comments

Please sign in to comment on this wire.