Gold broke above recent resistance Friday with a strong move to the 1300 level (international price in USD). That move was followed up at the start of the new week with a strong move above 1300. The chart of GLD, the world’s largest gold trading fund, clearly shows this move – and also what it might mean.
We’ve drawn a red line at the level of prior resistance. You can clearly see the strength of the last two trading days as they break up through this level.
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