With the global markets continuing to see volatile trading, this will trigger even higher gold prices.
This Is What To Expect Next For The Gold Market
August 26 (King World News) – Top Citi analyst Tom Fitzpatrick: “Key levels (for gold) at $1,522-$1,532 are being retested already as the brief consolidation last week looks to be ending without a major pullback. Even still, we are waiting for confirmation of a break through the upper end of this zone ($1,532) which, if and when seen, would likely lead to an acceleration higher as was the case when these same levels were breached on the way down in 2013 (see chart below).
In this respect we are also watching the 3 month implied volatility chart below (as it will be month end on Friday)…
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A close this month above 14.42%, which we are back above now, would complete a bullish outside month leaving the way for 23%-25% area. (See below).
THIS WILL TRIGGER EVEN HIGHER GOLD PRICES: Increased Volatility Means Higher Gold Prices!
Gold Price Targets
Fitzpatrick also discussed price targets for gold if gold breaks decisively above the key resistance area he described ($1,532): “The inverted head and shoulders on Gold targets $1,690 while resistance levels above there are closer to $1,800.”
To listen to one of James Turk’s best audio interviews ever that has just been released CLICK HERE OR ON THE IMAGE BELOW.
Gold, Silver, A Dangerous Game Of Poker, Plus A Surprise
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In the meantime, other important releases…
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Trey Reik – A Perfect Storm Of Events Is Igniting The Gold Price CLICK HERE TO READ
James Turk Says Silver Bull Market Formation Looking To Repeat 1970s Skyrocket In Silver CLICK HERE TO READ
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