Gold Surges above 1340, Signaling Loss of Confidence in Fiat Currency
BonTradeMarket sentiment was buoyant yesterday, driven by monetary decisions from the RBA and the BOJ as well as unexpected rise in ISM services index. Gold resumed the relentless uptrend after a brief pullback. The rally accelerated in NY session as more Fed officials were cited as supportive for further QE. The benchmark contract for gold surged to a record high of 1342.9 before settling at 1340.3, up +1.78%. The yellow metal has made new highs in 12 out of the past 16 days.
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Gold Surges above 1340, Signaling Loss of Confidence in Fiat Currency
