Gold Holding Above $1,300 On Safe-Haven Demand, Technical Buying

Gold prices are solidly higher, have scored a 2.5-month high and are trading above the psychologically important $1,300.00 level in morning U.S. dealings Friday. Safe-haven demand after a terror attack in Spain and chart-based buying are featured today. The marketplace is reacting with a “risk-off”   

mentality to an ISIS terror attack in Barcelona, Spain on Thursday, in which a van ran into a crowd and killed 13 people. A second attack in another town in Spain was thwarted by police, who killed five terrorists. Also, many believe the Trump administration is in great turmoil, which is causing anxiety and uncertainty, especially in the U.S. stock market. Look for gold to continue to hold its good bid, or even add to it, as the trading session progresses Friday. December gold was last up $12.90 an ounce at $1,305.30.  

Leave a Comment