Since the middle of June, with all the wild action, gold has been range- bound.  However, the recent action suggests that the consolidation pattern should end and a breakout higher is in the cards.

Gold is seeing a repeat of the patterns in early May and early June, both leading to big rallies. I don’t expect this time to be different and gold should be headed to $1,500. There appears to be a lot of gold bulls waiting to jump in and it would be no surprise to see the break out sooner than later.

Posted by :

Jack Dempsey, President

401 Gold Consultants LLC

jdemp2003@gmail.com