Gold Remains Range-Bound

 | Jul 21, 2013 12:46AM ET

Precious metals seem to have taken a page out of the army’s operating manual and are in a permanent state of “Hurry Up and Wait!” As with the last instance of consolidation, highlighted in yellow, prices are stuck in a very tight, boring range. My view is that once they finally break out, it will be to the downside, and we can get this party started again.