Gold renews drive to $2000/ounce

Spot gold broke through resistance at $1800, signaling an advance to test $2000/ounce in the medium-term. Retracement that respects the new support level would strengthen the signal.

Spot Gold

* Target calculation: 1800 + ( 1800 – 1600 ) = 2000

2 Replies to “Gold renews drive to $2000/ounce”

  1. Everyone is keeping their fingers crossed to hear what Big Ben got to say this Friday, is he going to hint QE3 or going to hang up his hands and say they can’t do anything more. By Friday I wouldn’t be surprised if Gold touches $2000 or reach range close to $2K per ounce.

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