News Bites
Gold price prospects looking good in coming years
(Kitco News) - It can’t be stressed enough the importance for traders and investors of examining longer-term price charts—even if one is a shorter-term trader. History shows that trending price moves tend to gravitate toward significant longer-term historical highs or lows, as seen on the monthly or weekly charts. See on the monthly continuation chart for nearby Comex gold futures that prices have been trending up since 2015. A bullish pennant pattern has also formed on the monthly gold chart. Gold market bulls should be very encouraged regarding their metal’s prospects in the coming few years, according to this longer-term price chart.
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