Gold Has Enough Momentum To Push Through $1,350 Next Week - Analysts

From kitco.com

The gold market is seeing its best weekly performance in more than a year and some analyst have said that the precious metal has enough momentum to break through critical long-term resistance in the near-term. Disappointing employment growth in the U.S. has pushed gold prices back to within striking distance of the $1,350 level. August gold futures last traded at $1,347.10 an ounce, up 2.7% since last Friday. The latest rally comes after the U.S. Labor Bureau said that only 75,000 jobs were created last month. According to the consensus forecast, economists were expecting to see job gains around 177,000. According to ... (full story)