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13 Jun 2014
Gold posting fresh highs on further short covering
FXStreet (Guatemala) - Spot Gold prices have been volatile in Asia after the U.S. ended their session higher, making a three-week high on Thursday.
We have seen price action take the yellow metal even further higher in Asian markets to post a score of $1,275.53. The market has been heavily offered of late and no doubt the safe haven demand is creating an environment of short covering of the $1,267 (end of May) drop. Iraq is causing a great deal of concern and coming back into the headlines again while civil war there breaks out amid the escalating violence as Iraq government calls upon the U.S for aid.
We have seen price action take the yellow metal even further higher in Asian markets to post a score of $1,275.53. The market has been heavily offered of late and no doubt the safe haven demand is creating an environment of short covering of the $1,267 (end of May) drop. Iraq is causing a great deal of concern and coming back into the headlines again while civil war there breaks out amid the escalating violence as Iraq government calls upon the U.S for aid.