Gold Futures Trade: Is It Time to Take Some Profits?

Guy Cerundolo

I have been bullish on Gold for much of this year.

But as an active investor and analyst, I’m focused on catching the “moves”. And it is now time, in my opinion and analysis, for traders to take profits.

In early June we posted that we were turning bullish on Gold and Gold futures. Here are 3 articles, the first two highlight our $1860 money flow unit (MFU) price target for Gold:

Gold Futures Trading At Make or Break Support Level

Gold Futures Reverse Higher Off Key Price Support

Is It Rally Time for Gold and Silver Mining Stocks?

Today’s Gold futures chart shows that price has hit our MFU-4 price target. Though prices can move higher, I believe it’s prudent to take profits and look to re-enter at another time as setups allow. It’s been a good run.

Gold Futures Price Chart

gold futures trading price target profits chart image july 23

Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.

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