Gold Attracting Safe Haven Buying

February Gold has reached the highest price levels since early October, leaving the 100 day moving average further behind. More talk that the sharp decline of oil hits severe global slowing have brought safe havens center stage. Metals are gaining despite strength in the Dollar and modest gains in equities in the last days. Seasonal buying has supported gold, as well as increased interest in mining shares over the last days and precious metals ETFs.

Going forward, it is mandatory to watch the effects of lower crude oil prices.

This short video summarizes the key facts in the gold market over the last trading days (excluding Tuesday January 13th).

Courtesy of Drew Rathgeber from danielstrading.com.

 

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