Gold bugs continue to buzz as the run higher clears $3,020

What’s there left to say with gold at this point. It’s been a hugely impressive run higher to start the year and we’re now looking to solidify a firm break above $3,000 in establishing the next leg higher. Amid a global trade war and Trump-induced uncertainty, gold is shining alongside the backdrop of major central banks still cutting rates while stocking up on supply. What’s not to like.

The run higher now looks to see gold post 11 weeks of gains out of the last 12 weeks. That’s a stunning rise in which gold is averaging roughly 1.3% gains per week in that span. 🤯

We’re also starting to see analysts raise forecasts for gold as the mood music continues to stay more bullish. ANZ is the latest to revise their 3-month and 6-month forecast of the precious metal to $3,100 and $3,200 respectively.

This article was written by Justin Low at www.forexlive.com.