Gold Flashes Buy Signal on Technical Breakout

(Before It's News)

DX is a great fund for getting diversified exposure to gold miners.

by Jason Hamlin (GoldStockBull)
Mine Web

Gold is rocketing higher during the first two weeks of October, up roughly $75 to $1,185 today. This is a gain of 6.7% in just two weeks as investors are increasingly betting that the gold price has bottomed.

The price advance is being driven partially by comments from Federal Reserve board members suggesting that a rate hike is not a sure thing in 2015, as most analysts had once expected. This news has helped to push the dollar lower and precious metals higher over the past few weeks.

The technical chart has turned bullish over the past few days. First, gold broke out of the symmetrical triangle pattern that had developed since July.

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