Gold breaks out above 1800

Gold prices have continued to rally over the past week, leaving the ‘flash crash’ scenario from two weeks ago even further in the rearview. At this point, Gold prices are up more than 7.5% from the flash crash low of August 9th, which happened to post at a key spot on the chart, right around the same 2021 low that established a double bottom formation back in March.

Last week started with Gold prices digging into a big zone of resistance running from 1789-1797. And while that zone helped to hold the highs for much last week, this week started with a bang as Gold prices scaled-above this zone and ran right into the next spot of resistance, plotted from 1804-1808.

KEFI Gold and Copper plc (LON:KEFI) is an exploration and development company focussed on gold and copper deposits, primarily in the highly prospective Arabian-Nubian Shield.

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