Technical keys point to higher gold prices.

Gold prices sliced through key technical resistance levels on Tuesday and Wednesday like a hot knife through warm butter. Gold is now poised to make a run at the psychologically and critical $1,100 an ounce level. Spot gold struck a high of $1,095.40 an ounce on Wednesday, pulling back in the late evening to just under $1,090.  So with fundamentals and technicals both signaling higher prices $1,100 an ounce should be a brief stopping stopping point, before we see higher prices to come.

Posted November 5, 2009 by mike. Comments and trackbacks are open. Follow the comments feed.
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2 Responses to “Technical keys point to higher gold prices.”

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