Gold’s had a very intriguing year and it’s recent breakout combined with it’s bullish seasonality could provide some decent trading opportunities in the upcoming weeks. It opened the year around 847 and is down only 6% as of Friday’s close, which is way better than any major average out there.
As you can see below it broke out of a triangle on the daily price chart and on the weekly RSI it broke out of a strong price channel. I tend to think it will gap up today as gold is on everybody’s radar right now so I wouldn’t chase it, but look for a pullback to establish positions if you’re not already in. I listed below some of the strongest stocks in this sector based on Friday's relative strength when compared against the GLD, and these are the companies I’m going to focus on.
