Also moves above the highest close going back to February 8, 2013
The price of gold is currently trading up $21.23 at $1658.16. The high price for the day reached $1662.58. The low extended to $1635.07.
The high price today got close to the high price from February 25 at $1664.04. A move above that level would only have the high from February at $1689.31 as the next target.
The highs close for the year comes in at $1659.38. A close above that level will be the highest close going back to February 8, 2013. Important? I think so especially if momentum can develop above that level.
The corrective low reached on Friday did fine support near the 50 day moving average. The low on that day reached $1563.05.. The price has rebounded 6% since reaching out low.
