Gold Surges Above Key 200 Day Moving Average $1270 Level
By: GoldCore
GoldSeek.com
Wednesday, 12 April 2017
– Gold price breaks above key 200-day moving average
– Gold hits 5-month high on back of investor nervousness
– Safe haven has 10% gains in 2017 after 9% gains in 2016
– Gold options signal more gains as ETF buying increases
– Geopolitical uncertainty over North Korea & Middle East
– Tensions high -World awaits US move & Russia response
– Russia says chemical attack was terrorist “false flag”
– Poor March jobs report shows US economy vulnerable
– French elections still tight and Le Pen still has chance
Gold prices surged another 2% to a five-month high above $1,270 amidst geopolitical uncertainty and weak US economic data.
The break above the 200-day moving average has cleared the way for a run towards $1,300/oz. It means that gold continues to be one of the best performing assets in 2017 with gains of 10.3% year to date building on the 9% gains in 2016.
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