It is always nice to see the price of gold performing well on a day when other currencies are basically idle. The price of gold climbed through several horizontal and diagonal resistance levels, the process was very quick. Gold charts of multiple time frames are now looking much better. Today just proves that buy and hold can work on some occasions, especially when quick mark ups are expected.
If you followed my posts you should know what my expectation is and there is not much more to add at this point.
Here is an example for one of the positive developments taking place:
Not perfect but this semi inverted head and shoulders pattern has a target of 677$.
Gold Spot (XAUUSD) Intra Day (four hours sticks) Chart
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