It has been a long time I did not update my forex category with gold related content. Actually I forgot to do so, and the other guest blogger in this post did not remind me.
Below is gold price chart, as on 18 July 2011. It is a daily timeframe, and the last candle seem like a hanging man candlestick. I don’t think that candle will be valid because it is the candle on last Friday, the candle close on the last trading day of the last week. I assume, the price will go up a little bit further, at least to test that magenta trendline then a retracement will happen.
It is the highest price ever, isn’t? Lucky for those who already bought gold for their investment.