Gold bugs are back, can it last?
Fiona Cincotta June 21, 2019 12:49 PM
Gold is back in favour. The prospect of looser monetary policy, a weaker dollar and elevated geopolitical tensions in the Middle East has put the gold bulls firmly back in control.
Gold is back in favour. The prospect of looser monetary policy, a weaker dollar and elevated geopolitical tensions in the Middle East has put the gold bulls firmly back in control. Gold touched $1400 for the first time since 2013 on Friday. The question is can is last?
Gold levels to watch:
Gold surged to a high of $1414.95 in early trade, it has since eased back to support at $1400. Given the almost 5% surge in the price of gold this week, we could expect to see consolidation here before any further big moves. That said should gold manage a move above $1435, the road then to $1700 looks relatively straight forward.
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