Wednesday, April 11, 2018

Gold price breaks through hard resistance level of $1355 as dollar falls and war drums escalate

In early morning trading on April 11, gold finally caught a bid and has gained over $16.00 to break through a longstanding resistance level of $1355.

The catalyst for this surge appears to be the growing escalation of a war in Syria that could potentially put the U.S. in conflict with Russia's support of the Assad government.

Meanwhile the dollar is also under some pressure as it has declined by 25 bps to sit at 89.38 on the index.


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