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BAR - Gold - Breaking Out Towards US$1800 And US$1900
GraniteShares Gold Trust Shares of Beneficial Interest
Gold closed the week at US$1,770 almost US$20 higher than at the closing price on June 19th. The bulls not only pushed prices to a new eight-year high at US$1,780 but have once again responded with great strength to a bearish attack on Friday. Every dip, no matter how small, is bought immediately.
Review
Since their highs at US$1,747 and US$164.42, spot gold price (XAUUSD:CUR) and the SPDR Gold Trust ETF (GLD) have been consolidating sideways for two months. During this period, bulls and bears were regularly taken for a ride,