Gold futures are trading above their 20 and 100 day moving average basically settling unchanged for the trading week going out this Friday afternoon in New York down about $8 at 1,323 after prices hit 1,345 in Wednesday’s trade as the trend still continues to the upside. I think this is just a possible pause as prices have had a heckuva rally in the last 2 months and I have been recommending a long position in gold for quite some time while placing my stop below the 10 day low which currently stands around 1,315 which is only $8 away so that stop is very tight with a high probability of getting clipped at that price on Monday, however continue to focus on gold and silver to the upside and if you’re lucky enough to get some panic selling I would still be looking at buying as 2013 created the low in gold prices in my opinion.
Trend: Higher
Chart Structure: Excellent
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