Gold: Rallies Above $3,000 Amid Market Volatility

From dailyforex.com

Gold has been somewhat positive during the trading session, gapping higher to kick off the Tuesday trade, breaking above the 3000 level in the front contract. And now it looks like we are trying to rally, but that doesn't necessarily mean that it is going to be the easiest move higher from here.After all, there are a lot of concerns out there and recently we've seen a lot of damage done to the gold market, mainly due to the fact that there were forced liquidations. For example, most hedge funds are levered to ridiculous amounts against multiple assets, and they had made a ton of money in the gold market. So, if you ... (full story)