Gold price heading back towards $1700 in the next few weeks?
The strength in the Euro gold price shows no signs of letting up. If the gold price in €s can end the week at these levels it will be the second highest ever weekly close for gold in that currency. The last time gold closed higher than this level was in the week that € gold went onto make fresh all time highs – the start of September 2011.
In terms of $ gold it looks like it is on the verge of a breakout of the tight trading range it’s been in since mid-May. So near-term where can we expect the price to rally to? Our good friend over at Market Securities, Paul Wiggins, now has a near-term price target of $1700 by mid-August:
- Groundhog Friday: Gold price closes at similar level to the previous 10 weeks
- Gold price trading back around $1700 – head & shoulders forming?
- Gold price heading for a 2% gain on the week
- UK CPI back heading in the wrong direction once again – now 28 months above mandated target
- Gold price back around $1700 as Russia take war rhetoric up a notch
Link to this article: : http://www.goldmadesimplenews.com/gold/gold-price-heading-back-towards-1700-in-the-next-few-weeks-7473/