Gold Seeing Bullish Momentum
On the daily price chart, it’s clear that gold topped out in March at $192 — using the SPDR Gold Trust (NYSEARCA: GLD) as a proxy for gold price — and that a low of $158 came on July 21. Since then, the metal is seeing bullish momentum as it lifts up off of the lows and blasts it way back up to the $167 level before a bit of selling came in early August.