Gold very strong August contracts currently trading at $2.480, Sept at $2.491. Over the past 12 months the POG has risen over $650 or 27%.
Once more nations cut interest rates then that will form further support levels for Gold. Unfortunately too many still look towards the federal reserve for guidance, which is very misguided !
IAU still not showing its potential in terms of a higher share price, way to much range and penny trading as market makers make their dimes. Needs stronger volume with breakouts to shake off the lethagy. Need to make the shorts sweat. As volume increases in this sector it would actually make more sense for those habitual shorters to switch and start taking long positions.