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Gold: Heading to Record Highs
Even before the recent decline in the US dollar, the gold price continued its sharp upward trend, with gains reaching the $2161 resistance level per ounce, a historic record high for the gold price. Overall, the gold prices rise to a record high this week has puzzled many analysts and forced traders to wonder how far it can go.Weak US economic data and banking tensions have helped drive a 5% jump in bullion prices over the past four trading sessions, with recent gains on Tuesday and Wednesday surpassing the previous high set in December. However, the speed and scale of the move surprised many market watchers, ... (full story)