Gold Breakout Continues: $750 Minimum Price Objective

Gold has been performing very well as of late. The cash Gold market appears to finally be overcoming the paper market of flippers.

Why is this? Because paper flippers have no commitment one way or the other and cash Gold buyers buy and hold their Gold as a safe haven from the geo-political instability that looks to be right around the corner.

Gold etched out a nice inverse head and shoulders formation on the 1-day chart. The minimum target of such a formation is the distance between the neckline and the bottom of the head. That is why I see gold hitting a minimum of $750 on this next move.

In other words, it is wise to buy soon if you haven't already, buy the dips, and hold for a couple of months, perhaps selling in late March or April. Buying and holding a core position during a trend like this is likely to net more profits than flipping for most people.