Gold Price Analysis: Key Levels To Watch

October 13, 2015

GOLD BREAKS OUT…

Gold Price Analysis: Key Levels To Watch

Gold Price Analysis: Key Levels To Watch

Last week, we told you in these pages that silver soared 10% as a supply squeeze sent coin investment demand rising to a near 30-year high.

And while the rally continues in silver this week, it would seem that gold is now taking its turn to shine. During yesterday’s trading session, the price of gold broke out above its key resistance level of $1160. This has been a particularly sticky area for gold over the last several months. If the rally can be sustained, $1160 may turn into a key support level as the yellow metal gains more buyers amid the most bearish market sentiment since the dot-com boom.

The next major test for gold may come this week as it attempts to scale above its 200 day moving average for the second time since May.

Gold Price Analysis: Key Levels To Watch

It’s still too early to know if this breakout in gold is the real thing or just another fakeout. With all of the pessimism in the global economy, however, it is understandable that investors are seeking safe haven assets like precious metals. Our system will continue to monitor gold and silver prices in real-time, and I will notify our paid subscribers when the next major buy signal emerges.

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Until next time,
Jerry Robinson

P.S. Here at FTMDaily, we specialize in providing timely investing education and trading insights to help you profit from any kind of market — up or down. If you are not currently a premium subscriber, I invite you to try out any of our premium services completely risk-free. Try any of our services and if you are not absolutely satisified, we’ll provide you with a full refund, no questions asked. Isn’t it time you invested in yourself? View our plans are pricing here.

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