Gold Above 1900. Further Upside Around 10%

Gold's surge to a new record high above 1900 signaled investors remained cautious in the global economic outlook. Threats of intervention from the SNB and the BOJ, together with speculations of QE3, sent the market to gold as it's considered as the ultimate safe haven and a store of value. The benchmark Comex contract breached 1900 for the first time on record yesterday and closed at 1891.9. In Asian session today, the metal extended gains to a new high of 1918.9.

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Gold Above 1900. Further Upside Around 10%