GOLD FUTURES PRICE decreased 1.55 USD/t oz. or 0.12% to 1,284.01 on Monday August 21 from 1,284.10 in the previous trading session. Historically, Gold reached an all time high of 1898.25 in September of 2011 and a record low of 34.83 in January of 1970.
Gold markets rallied during the day on Friday, testing the vinyl $1300 level. However, we rejected price there, as the overall consolidation from the last several months has held. Because of this, I think it’ll be interesting to see what we can do going forward, and if we break below the $1285 level, the market probably goes much lower, stopping at the $1275 level, and then eventually the $1250 level. Longer-term, we could be looking at a move towards the $1200 level as it is the bottom of the consolidation level that we are trading in the gold market.
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