Gold is prime for a bigger breakout, according to these charts (via tradingnation)
index, or GLD, a popular gold-backed exchange-traded fund that hit a new 52-week high on Friday.
If gold prices do push past their five-year trading range, that would be a major green light for prospective gold buyers, O'Hara said. Mark Tepper, president and CEO of Strategic Wealth Partners, saw slightly less runway for the yellow metal. Gold outperforming copper for the last two months has been "a great risk-off indicator," Tepper added. "I do think it's great to own as a calamity hedge, but there's no inflation in sight, so I don't think the rally in gold is sustainable, and we'd only be owning it for protection purposes."
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