Gold Price Rally Has Metals On Verge Of Breakout… Again

It seems like gold and silver have been trading near yearly highs for much of the year. That’s because every pullback has been saved by a sharp rally and consolidation.

So here we are near year end with the Gold ETF (GLD) trading near its highs… yet again. And this area has become price resistance.

The question now is whether gold is ready to breakout. Silver is also trading near its yearly highs, and make no mistake about it, gold is always in a good spot when silver joins the party (so watch that too).

Below is a simple chart highlighting this retest of the highs. Put gold on your watch list.

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$GLD Gold ETF Chart

gld gold etf trading at major price high resistance chart

Twitter: @andrewnyquist

The author may have a position in mentioned securities at the time of publication. 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.