“Since we identified the major breakout in early 2024, gold has been trending very strongly,” Michael said.

“I still believe it can continue to head higher over time because of central bank buying, falling interest rates, and concerns over global debt.

“Since March 2024, gold had spent most of that time in a clear trading channel.

“However, in April this year it popped to the upside of this channel.

“This could lead to a further acceleration in the gold price.

“In the short term, however, it’s consolidating sideways in a tightening range on top of this channel.

“It is experiencing resistance near US$3450.

“Because the range is tightening up, it means that we are getting closer and closer to the next breakout.

“That should result in another strong rally.

“This means now is the time to get in before it starts moving again.

“One way to capture the price rise is to buy a gold ETF.

“However, for my clients, we have exposure via a gold miners ETF.

“That is, an ETF that contains over 60 global gold miners.

“This provides more “bang for your buck” on any gold price move.

“The code is GDX.ASX” Michael said.