Gold Forms Pennant Formation, Suggesting Gains in Store: Chart

After rising 15 percent in the first two months of the year, gold has languished around $1,250 an ounce. The precious metal now appears to be forming a so-called pennant, a chart pattern resembling a triangular flag at the end of a pole. That suggests it is about to resume gains to as high as $1,400 an ounce, according to Johannesburg-based Nedbank Capital.

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