Gold breaks out to five-month high on safe-haven demand

Gold prices rose $19 to the highest since mid-September as scares in China and Ukraine spurred demand for safe havens. Technically, the break above the October higher pulled in buyers and the minor double top at $1351 targets a test of the mid-September high at $1375.

gold daily chart

gold daily

I have been talking about gold longs for awhile. I’m in the trade myself and I don’t see any reason to cover yet.

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