Gold edges to yet another new record above $2,575

Just now Gold lifted to set another record high today. The metal just topped the $2,575 mark for the first time ever. Looking at the technicals and attempting to see where exactly it might be headed to, the current upside channel indicates that $2,600 might be possible on this run. The daily RSI (Relative Strength Index) is certainly not overbought, but the weekly is a little more so and the monthly RSI is nudging 80, so that is worth noting. That said this is a momentum trade right now and that is all I keep hearing from other analysts- they love the stuff. Well, it has been a great trade and looks like it still might be, but do not be the last one to grab this on the way up. Gold has just now traded to touch $2,576.19 per ounce. It is currently trading at $2,574.10