Traders have been watching gold for weeks now and wondering if it’s ever going to break through the $1000 mark. Well earlier today it traded as high as $1007.50 (which was an 18 month high) but the price has since fallen back below the $1000 level. So no-one really knows which direction the price is going to go from here.

However one thing I will say is that the automated trading signals provided by Marketclub have been spot-on in relation to this particular commodity. For example the last monthly trade triangle (which was a buy signal) was back in February this year at $929.50. This has obviously generated some nice profits but the weekly buy signals have also been profitable with signals in April ($913.60) and July ($946.40).

At the moment the previous daily, weekly and monthly trade triangles have all been buy signals so on that basis you would have to favour the upside, but as I said before, it’s hard to predict these price moves with any real confidence at the moment.

 

 

Filed under: Commodities

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