2019 high at $1557.11. The high today reached $1551.52
The price of gold is currently up close to $20 on the day at $1549.04. The high price extended to $1551.52. In the process it got within $6 of the 2019 high price of $1557.11. That price was the highest level since January 2013. Needless to say represents a key upside target. A break above would have traders thinking toward the $1600 level for the precious metal.
Drilling down to the hourly chart, the price did correct intraday today but was able to stay above a broken trend line (currently at the $1539.50 level). On the topside, another trendline comes in at $1556.74. That is near the 2019 high and help solidify the area as a key technical target (and could find resistance sellers).
