FXstreet.com (San Francisco) - The XAU/USD has jumped around USD $24 in the latest couple of hour after trading at 1,766, rising to break above 1,783 and 1,787 September highs and previous 2012 maximums at 1,790, reached in February, and to reach fresh 2012 highs at 1,791.80.
Currently the gold is pricing at 1,788.75, 1.30% on the day. In a recent article, the BullionVault.com analyst team pointed in a Scotia Mocatta's analyst Russell Browne: "On the monthly chart, the bull trend remains intact, with uptrend support at $1594 and resistance at $1790, the previous high."
On the other hand, and broken the 1,790 resistance, Sharps Pixley's CEO Ross Norman "thinks not given the run rate of the U.S. monetary expansion and the bull run of gold can last another 5 to 7 years." Sharps Pixley comments "the Deutsche Bank analysts calculated using a historical measure of gold against major benchmarks, gold price could range from $1,455 to $2,960.
Remembering The Gold & Silver Club's analysts Nik Kalsi and Phil Carr article, "if the price continues to rally from there that’s when things get really exciting and we predict the $2000 an ounce level could be tested." Kalsi and Carr's "advice is to continuing buying on the dips."
Currently the gold is pricing at 1,788.75, 1.30% on the day. In a recent article, the BullionVault.com analyst team pointed in a Scotia Mocatta's analyst Russell Browne: "On the monthly chart, the bull trend remains intact, with uptrend support at $1594 and resistance at $1790, the previous high."
On the other hand, and broken the 1,790 resistance, Sharps Pixley's CEO Ross Norman "thinks not given the run rate of the U.S. monetary expansion and the bull run of gold can last another 5 to 7 years." Sharps Pixley comments "the Deutsche Bank analysts calculated using a historical measure of gold against major benchmarks, gold price could range from $1,455 to $2,960.
Remembering The Gold & Silver Club's analysts Nik Kalsi and Phil Carr article, "if the price continues to rally from there that’s when things get really exciting and we predict the $2000 an ounce level could be tested." Kalsi and Carr's "advice is to continuing buying on the dips."
