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Gold Breaks $1,000 an Ounce; What’s Next …
Yesterday, gold broke the $1,000-an-ounce barrier, after rising from $950 per ounce last week.
It was the precious metal’s fifth run-up to the round number. And now there are many signs indicating that yesterday’s decisive break is of major importance.
Take a look at the following chart …
As you can see, from November 2008 through February 2009, gold rose from around $700 to nearly $1,000.
The ensuing consolidation took six months … and ended last week. This consolidation has the form of a triangle, which typically confirms a trend.
With last week’s…
9Sep2009 | Money and Markets | 0 comments | Continued
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