Gold has certainly been one the more interesting commodities to watch in recent months. It has staged an impressive rally this year and to totally appreciate the significance of the move it has move you have look at the monthly chart, which illustrates how this year’s move up has reversed the downward trend of the last 5 years. We had had an uninterrupted string of Lower Highs and Lower Lows from 2012 to 2016, but now we are clearly in New High territory, and the upward trend received a strong boost from the historic Brexit vote. It will be very interesting to see just how far this leg up will extend.
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