Gold is having one of the best days of the year. The yellow metal has decisively broken the $4,200 per ounce barrier, signaling a likely close above the 50-day moving average – a key technical level.
Gold is having one of the best days of the year.
The yellow metal has decisively broken the $4,200 per ounce barrier, signaling a likely close above the 50-day moving average – a key technical level.
The last time such a cross occurred was nearly a year ago; gold traded around $3,350 before going on a generational run.
The miners responded strongly intraday.
Agnico Eagle Mines (NYSE:AEM) was up over 9.5% while Newmont (NYSE:NEM) rose about 7%.
Gold surges past July's consolidation, eyeing $4,200. With Fed anxiety and inflation fears looming, is a real breakout underway?
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