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Gold gapped up and closed sharply higher on Monday due to a flight-to-quality move on the part of investors following the weekend downgrade of US Debt. Today's rally saw October post a new all-time high. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI neutral to bullish signaling that sideways to higher prices are possible near-term. If it extends this year's rally, upside targets will be hard to project now that October is trading into uncharted territory.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
