After reaching a high of $1370.00 in mid-April, the price of gold dropped over $200.00 and traded as low as $1160.00 on August 16th.
By many technical measures, the 4-month correction in the yellow metal looks to have run its course.
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Increased trade tensions, EM currency weakness and Geo-political risks are all fundamental elements which support higher prices for Gold.
The next point of resistance is near $1214.00, with solid support at $1185.00
Our preference within the gold miners is NCM, followed by EVN.
