SPDR Gold TrustLong
GLD - 1M - Cup and Handle
Gold reached a new record high this week, surging to $2,578/oz amid a weaker dollar and declining bond yields.
This spike followed economic data hinting at more aggressive action from the Federal Reserve ahead of next week’s interest rate decision.
With a decade-long cup and handle pattern forming on the monthly chart, a measured move could potentially see gold climb another 18%.
This spike followed economic data hinting at more aggressive action from the Federal Reserve ahead of next week’s interest rate decision.
With a decade-long cup and handle pattern forming on the monthly chart, a measured move could potentially see gold climb another 18%.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.