After forming a base ( ) on 30 March, gold began its journey to recover previous highs. Until now it has been stair stepping its way up within an up sloping channel, but now looks ready to break out and accelerate. I am targeting $1950 at first and if price action is supportive, will look for it to achieve the $2,000 mark.
A word of caution – This commodity has already become overextended from the 20 (check out the weekly chart too). When this happens, a reversion to the mean usually occurs, so I expect a (large) retracement to occur soon. Watch out for that as it will provide a great opportunity to get onboard and ride this train.