Gold Approaching Historic Breakout

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Gold closed last week at $1974. The key resistance level for Gold on a daily and weekly basis is $1950 to $1985. There is also monthly and quarterly resistance at $1953. A weekly close above $1985 would mark the second-highest weekly close ever. If Gold could make that weekly close then it would retest the all-time high within days.

Silver closed last week up 10% but Silver faces significant overhead resistance at $25 and then $26-$28. Silver and the miners could underperform Gold as long as it remains below the $1985 resistance.

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