Commodities Analysis and Opinion
Gold Bullish Indicator Breaking Out to New Highs
2024.07.16 11:40
Precious metals continue to show strength this year, with breaking out to new all-time highs.
Could things get even more bullish for the yellow metal?
Well, today’s chart highlights a key precious metals ratio that is working on a 13-year breakout.
Below is a long-term chart plotting the price ratio of gold to the . As you can see, this important gold ratio has formed a bullish cup and handle pattern, and the price is attempting to break out at (1).
In my humble opinion, a successful breakout here would be very bullish for gold and precious metals.
Stay tuned!
