RE: gold30 Jan 2020 23:09
ccn.com
Gold Price Poised to Knock Out Another 7-Year High: 3 Reasons Why
Published: January 30, 2020 8:07 PM
The price of gold rallied 0.9% to $1,590.70/oz. on Thursday, the highest in three weeks.
A combination of technical and fundamental forces has bullion hitting new seven-year highs this quarter.
Inflows into gold exchange-traded funds (ETFs) have already hit seven-year peaks.
The price of gold rallied sharply on Thursday, as coronavirus fears overshadowed economic data, corporate earnings and even the Fed.
April gold futures jumped $14.70, or 0.9%, to $1,590.70 a troy ounce on the Comex division of the New York Mercantile Exchange. The yellow metal remains about $29 shy of its most recent seven-year peak.