Gold Price Jumps on Flight to Safety

Written by Swiss America

gold bars 2467833 640The price of gold is up sharply on flight to safety flows -Forex Live
"The price of gold is up sharply in reaction to flight to safety flows on the back of a deterioration of US China trade.

Technically, looking at the daily chart, the price rise of $17.60 to $1480 has the precious metal moving closer to its 100 day moving average at $1486.17. The high price today has so far reached $1481.86. The last few days has seen the price consolidating at lower levels. However the run to the upside today has traders eyeing that key moving average. A move above would be more bullish from a technical perspective."