Continues Marching Higher - On Monday we.......>

GOLD: Continues Marching Higher

- On Monday we wrote that gold has continued marching higher due mainly to

US-China trade talks and increasingly looser global monetary policy.

- On the technical side we pointed to the 50% long-term Fibo level at $1484 as

the next key level, which has been breached today. Furthermore, we have broken

out the top of the trend channel on both the daily and weekly charts, with the

next key resistance coming at $1508, the top of the trend channel on the monthly

chart. If this is breached we continue to look for $1680, the target from the

triangle breakout.

- We also note ETF investors appear to have been getting involved in gold again,

but positions seem to be somewhat smaller than in 2012 at present.

- For the full PDF with accompanying charts contact your MNI Account Manager.