Gold Daily Chart
The cup and handle formation remains active, and the trend channels appear to be working as gold climbs the wall of worry in the 'handle.'
Gold Daily Chart with 50 DMA
Gold did a quit but precise hit on the 50 Day Moving Average today and then rebounded with a vicious rally higher. This speaks of the strength of the physical market underlying the paper market, and the role that gold played today as a store of wealth in a period of perceived risk.
