Gold is Pulling Ahead in This Tug-of-War
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
Today’s chart compares the price of gold to the S&P 500 index. Since bottoming in December, gold has moved into the lead. The supporting indicators at the top and bottom are positive. The blue arrow points to the breakout point at the 200DMA – a breakout that is currently being tested. As long as this four month old channel remains intact the trend favors gold over stocks.