Gold prices have been consolidating for a few months already, and the next breakout could take prices to 2011 highs of $1,923, this according to Peter Reznicek, head trader at shadowtrader.net.
"For me, the target just has to be the prior all-time high in 2011. I'm just looking at the $1,923 level, that would be fine, and then reassess the situation from there," Reznicek told Kitco News.