Attached is the gold futures contract chart(nearest month - December).
The MACD turned down in early September (blue line crossing red line) and signaled a consolidation. Now the blue line is setting up for a golden cross with the red line on the upside.
The gold market has tested several times just under the US$1'500 level, but the selling was never able to depress the gold price under that level more than a few days.
Trading programs are showing gold has entered into a positive cycle till at least year-end.
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Commented on MasterMetals