Gold may be entering a binary event as Trump-Xi are set to meet

There’s recently been a big focus on gold’s price moves. What happens next to the price of gold is more important. There is a potentially binary event ahead.

Let us explore the issue with the help of two charts.

Please click here for a weekly annotated chart of SPDR Gold Shares GLD, +0.19%GLD, +0.19% an exchange traded fund (ETF). Please click here for a daily annotated chart of the same ETF.

Please note the following:

• Gold has broken above the strong resistance zone shown on the daily chart. This is bullish.

• Gold trades around the clock.

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