Gold futures managed to close higher on the day for the first time since Tuesday of last week when gold traded to a high of $1820. Gold futures traded lower Thursday and Friday of last week, however in both days’ gold closed above $1800 per ounce.

For the first time since September 20, 2011 gold futures closed above $1800 per ounce. On Tuesday July 7^th, gold for bulls stormed the long standing in almost 10 years closed above that key price level.

On Tuesday gold futures traded and closed above $1800 for the first time since 2011. After trading to an intraday high of $1829 yesterday, today’s trading activity can be best characterized as short-term profit taking.