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Gold breaks out above 1300 this week, and

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gfp927z   Wednesday, 01/30/19 09:35:42 AM
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Gold breaks out above 1300 this week, and above the recent Jan trading range. The GLD had a 'golden cross' early last week. Key resistance for gold is the 1350-1365 area, which were the highs from the last 3 years.

With the Fed having hit the temporary 'pause button' for March, the dollar has weakened some, but it's still too early to tell where it's headed based on the chart, though looks like a downside bias for now. It's in a wide trading band from 90-100. Rickards said the Fed has signaled a pause until further notice.

The main stock indices are consolidating between their 50 and 200 MAs, The DJIA is the closest to testing its 200 MA, which is at 24,978, so further recovery in stocks would make the DJIA the first main index to get back above its 200 MA..





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