Gold Breakout & False Signals From GDXJ?

By Jordan Roy-Byrne of The Daily Gold

Saturday, April 15, 2017 10:29 AM EDT

Gold broke key resistance at $1262 (the 200-day moving average) as well as important resistance at $1278. It could reach $1300-$1310 on this move. Meanwhile, the GDXJ ETF has grown too big and Bloomberg highlighted this issue which may be causing artificial and not fundamental weakness. Lastly, Gold is showing increasing relative strength.

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