After surging to an all-time high of $3,500 per ounce in April, gold has cooled off, building a narrow base between $3,200 and $3,400. Rather than signaling exhaustion, this consolidation has formed an ascending triangle, a pattern that often precedes an upside breakout.
If that structure unfolds, gold could be on track for a decisive move to new highs, potentially opening the door to levels that traders have not seen before.
