Gold Futures
Gold futures settled last Friday in New York at 1,432 while currently trading at 1,448 up about $16 for the trading week experiencing a wild trading session yesterday having a $45 range rallying sharply on the close because the Trump administration is going to levy more tariffs on China.
Gold prices are trading above their 20 & 100 moving average as this is the strongest precious metal at the current time. I still believe higher prices are ahead. However, I am not involved. I do have bullish recommendations in platinum, silver, and copper as they all experiencing high volatility over the last several days.
Gold prices are trading far above their 20 and 100-day moving average as clearly this trend is strong to the upside. However, for the bullish momentum to continue, we have to break the July 19th high of 1,467 as gold prices are right near a 6 year high.
The 10-year note is yielding 1.87% as I have a bullish recommendation in that market as that is helping fuel gold prices higher as European countries and Japan have negative interest rates so money flows are coming into gold and I don't think that situation is going to change anytime soon as I see no reason to be short.
TREND: HIGHER
CHART STRUCTURE: SOLID
VOLATILITY: HIGH
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