Gold Holds to $1,400 Breakout

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Source: Bloomberg as of July 5, 2019. Gold spot price based on GOLDS Comdty index.

To recap gold’s positive trend over the past few weeks, gold trading above the $1,370/80 per ounce level verifies a critical multi-year base breakout.  Gold’s rise has been impressive as multiple assets have corroborated the move, and the price action on many gold-related assets has been emphatic.