Right back to the highs
Gold erases decline.
Investor appetite for gold continues to rise. Even on days like today when risk appetite is improving, the dips are finding buyers.
Just a few hours ago, gold was down $13 to $1534 but has now erased the decline to trade flat at $1547. It's a theme that has unfolded again and again as retail and fund managers allocate more towards gold on increasing confidence that we're in a global easing cycle.
What needs to happen soon to sustain the enthusiasm is a break of the $1550-$1555 range that has capped gains for the past two weeks.
