Monday 3 April 2017

Gold leaning upward

Gold has begun a new month and the second quarter, on a moderately positive note. The precious metals Gold ETF of GLD settled net higher by 0.5% to $119.28. There is soft resistance around the $120.00 threshold. Mid term outlook remains bullish.

GLD, weekly


Suffice to add, March ended on a slightly bearish note, but the mid term trend remains bullish. A weekly close >$120 seems due within the next 1-3 weeks.

For those with an interest in the related miners, issue 2 of a Gold Miners Report is now available.