Gold ready to move
Gold prices have been going up since April 2001, when the price was around 255 an Ounce. In September 2005, the price 
began to rise at a increasing speed after having been rather stable from the beginning of the year. This stable period looked as a resting period, after the prices had risen steadily from 2001. In May 2006 the price of Gold topped after a big spike on the monthly charts, followed by a considerable retracement of the prices.
Since January of this year, the price of Gold has been fluctuating between around 646.4 and 710.4 an Ounce or around USD 6,400 pr. Futures contract. The last few day’s the price has managed to break out of this tunnel on a daily basis. Even though the Stochastic indicate that the Gold is overbought on the daily chart, the monthly chart indicate that there is a room for higher prices.
When looking at the monthly chart, the resistance of the May 2006 top is in the process of being broken, and thus indicating 
a possibility of the prices moving upward. In 2005/2006 it was forecasted that the price of Gold would reach 800 in a short time. The indications in the charts show that this could be a possibility in not so long a time. If the Gold manages to stay above present prices, the changes of Gold reaching 800 early 2008, are quite good. It could actually happen earlier.
