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Gold - New high looming?
Gold eyes prior peak after brief correction Gold is continuing to edge higher today, supported to an extent by the weaker dollar, not that it held the yellow metal back much yesterday. It found strong support around $1,320 earlier this week and has since burst higher with the previous peak around $1,350 in its view. A break of this could propel gold higher, although it will have to be matched with momentum because as we saw last week, the absence of this saw it reverse course very quickly. The shallow correction earlier this week will be encouraging for gold bulls, having only retraced 38.2% on the previous pullback, ... (full story)
