Gold Price News and Forecast: XAU/USD printed a new eight-year high at $1818/oz
|Gold and Silver break further higher [Video]
Both gold and silver extended their gains today, so I figured it was time to provide some analysis on the precious metals.
People that follow me know I have been bullish these metals for a long time, and I continue to think more gains will be on the way, especially silver which looks relatively inexpensive compared to gold.
Gold consolidates above $1800, holds onto gains looking at $1825
The yellow metal rose further and reached the highest level since 2011 at $1818/oz after the beginning of the American session. It then moved off highs, finding support at $1808. As of writing, it is hovering around $1810, up $15 for the day.
XAU/USD is about to post the strongest close since September 2011 as the demand for the metal prevails on a scenario dominated by ultra-easy monetary policy across the world.
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