Gold set to target $1 280 – at least
And the rand will rally before again weakening
FOLLOWING LAST WEEK’S REPORT on the gold sector, we present a chart of the gold price (in US dollars). While gold shares have raced up to their minimum targets, the dollar gold price is interesting in that regard. We also show a weekly chart of the US dollar/ rand, with a longer-term perspective for it. The charts show the gold price nearing a very important resistance level – which is likely to hold before an eventual breakout later. Meanwhile, the US dollar/rand is in a consolidation phase before the rand again weakens.