December Gold has struggled quietly since tripping a theoretical buy signal at 1941.30 more than two weeks ago. The 2142.40 target still looks likely to be reached, but the presumptive consolidation has grown more than a little tedious. Bears could not have gotten much satisfaction either, since, except for a savage pounding they administered the second week of August, the futures have refused to give up any ground. Regardless, the December contract still needs to close above p=2008.30 for two consecutive days, or trade above 2030 (or so) intraday, to make a run-up to the target an odds-on bet. The gratuitous swings are tradeable in the meantime, but only with diligent attention intraday.
GCZ20 – December Gold (Last:1972.60)