Gold Price Analysis: Fresh 2019 Highs Sees 5yr Trendline on Verge of Breaking

From dailyfx.com

Gold prices are soaring this morning following the break above its 2019 high ($1346) and as such is on course for its 4th consecutive weekly gain. The latest catalyst behind this morning’s jump in gold looks to be more technical, having broken above the prior YTD high. That said, with the backdrop of expectations that the Fed could provide “insurance” rate cuts in the near-term, speculators have piled into gold (speculative positioning). Consequently, with this in mind, next weeks decision will be key as to whether the central bank caves into market pressures and signal a readiness to ease policy, particularly ... (full story)