Commodity traders know that gold is highly cyclical, and that it takes significant changes in the fundamentals and sentiment to change the long-term price trend. That said, the latest news on gold is cautiously optimistic for those waiting for a rebound in the precious metal. Over the last few days, gold has broken through its 200-day moving average to reach its highest price in three months at just short of $1,200 per oz.
Gold: Off To The Races, Or Just Another False Start?
Source: Visual Capitalist