GOLD PRICE CORRECTION UPDATE

 

GLD has touched the 20-day MA, and could find support here. I would be surprised if GLD drops below 124 during this correction. I think it’s safe to buy at these levels. In spot gold, I would grow concerned if prices fell below $1,310.

I’m expecting 138+ in GLD later this summer with the added potential of reaching 150.

gld

Miners and silver have not met the support of their respective 20-day moving averages. Gold is presenting the better price correction at this time.