The futures rallied nearly $40 last week from within a dime of the target provided here a few days earlier. This has not made me especially bullish, however, even if I am open to the possibility the rally will achieve new highs without requiring five to eight weeks to recharge, as has been the case since April. That scenario would become more like if the October contract lunatics above the external peak at 2456.70 recordeed last Wednesday on the way down. Until such time as that occurs, be alert to the possibility of a punitive relapse.
GCV24 – October Gold (Last:2498.60)
