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Published on April 12th, 2017 | by San Dee Doxtdator

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Gold price could have smooth sailing to $1300 per ounce after 2% climb and crossing 200 day moving average

by The Daily Economist

On April 11 gold climbed more than $20 in intraday trading to close at $1273.  This 2% move was the third attempt in recent weeks to pierce through the hard resistance of its 200 day moving average and is a strong signal that the price could quickly move to or beyond $1300.

Live New York Gold Chart [Kitco Inc.]
With Trump threatening North Korea, Putin on the tape over Syria, China threatening ‘red lines’, and French poll data sparking panic across the pond, it seems safe-haven buying is suddenly de rigeur as Gold tops $1275 for the first time since the election, breaking above its 200-day moving average. – Zerohedge

 


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