Analysts Spot another Bullish Price Pattern on Gold Charts...

December 19th, 2023 Comments

Gold prices have remained buoyant above $2,000, aided by last week's Fed pivot on the direction of interest rates.

The yellow metal remains in a bullish posture, as traders continue to expect a decisive breakout above $2,075 after the most recent false start.

Meanwhile, technical analysts have spotted an inverse head-and-shoulder pattern on the gold chart, stretching back to the first time gold hit $2,075 back in 2020, seen on the gold price chart

2024 New Zealand 2 Oz Silver Hawksbill Turtle
2024 New Zealand 2 Oz Silver Hawksbill Turtle
View Details

This pattern is thought to be highly bullish; the "neckline" is at the all-time high (which has now been reached on four separate occasions).

Silver remains weaker, struggling to maintain the $25 level.

If gold ultimately breaks out to all-time highs, though, silver could finally get moving and break above $26 on the way to its key $30 level.

At Money Metals, we've seen an unusual amount of gold selling this month, suggesting that retail investors are pocketing their gains by taking some money off the table.

Not only is Money Metals the best overall dealer on the buy side, but we are also extremely competitive when it comes time to sell your precious metals.

The Free Kennedy Silver Half Dollar promotion ends tomorrow – all $500+ silver orders receive this free coin bonus! Also, get your gift orders placed today by credit card if you are hoping for delivery before Christmas!

Simply order online at or call 1-800-800-1865!