Gold jumps nearly $40 to a fresh all-time high ...Middle East

What a breathtaking run it's been in gold since the breakout at the start of March.We're at fresh all time highs, up $37 to $2326 after an earlier dip to $2268 was run over. Gold is up in eight of the past nine days.There is no doubt that it's overbought on almost any metric but I think there's a strong case to be made that retail hasn't arrived yet. Gold is also a relatively small market that's suddenly getting some attention on CNBC. If retail and option traders start piling in, it can move.That begs the question: What's driven the move thus far.I think it's abundantly clear that it's central bank buying, and very likely China.Here is a great chart from Tavi Costa.Perhaps the tell was yest

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Last updated : 05 April 2024 clock 08:57 PM

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Gold jumps nearly $40 to a fresh all-time high ...Middle East

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