TALKING TECHNICALS: Will gold remain a buy?
Indications that the market expects a large increase in profitability at the gold mines
28 September 2017 - 01:07
After spending the months between March and August in a trading range of between US$1,220 and $1,300, the gold price broke out through the upper end of it in late August. The strength since early July and the subsequent breakout can be attributed largely to a weak US dollar over the past few months. That currency has in fact weakened throughout 2017; the US dollar index has lost almost 12% since January. This weakness has accelerated since July, which has contributed in no small part to the gains in the gold price.
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