Precious metals have surged in 2025 with gold trading near $3500 and silver around $40.
Several factors have come together to provide a strong tailwind.
That said, the price of gold has been in a consolidation pattern for the past four months. So now is a good time to pay attention.
Following a big up move, it can be argued that a lengthy consolidation is bullish. But we will watch the price action and let it guide us forward.
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$GLD Gold ETF Chart
Price remains above its 20/50 day moving averages (bullish). A move over $318 would signal a breakout and trend continuation. Only a move below $290 would signal a larger correction.
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.
