Gold Rally

Gold Rally
Have you noticed the price of gold lately?  It has been experiencing a nice price levitation over the last few weeks.  In other words, there is a nice rally in the works.

The week ending July 7th, gold futures closed at $1,206.60 per ounce.  Since then, gold has closed with gains 7 out of 9 days and one of the two down days nearly closed flat.  Last Friday’s gold close was $1,255.30 for a tidy gain of $48.70 per ounce!  

The chart shows the nice multi-day move up off the lows.  It also looks like recovery back to the $1,300.00 area is just getting started, so buying gold as a long term investment now looks like a great idea.