Gold Reaches Highest Since February on Positive Expectations
Gold has reached its maximum level since late February today, following the slightly
Gold was not among the best performing assets during the first three days of the week, but it also failed to decline as dramatically as oil or some other commodities. Yesterday, after some of the fundamental reports hinted improving macroeconomic situation in the United States and Europe, gold managed to pick up and start a small uptrend. Today, Canada reported
15 out of 29 market analysts surveyed by Bloomberg were bullish towards gold for the upcoming trading week. Only 7 of the remaining 14 were bearish, while the other 7 were neutral. Monetary easing from the USA (QE3), Japan (additional
Gold went up from $1,769.04 to $1,777.58 per troy ounce as of 16:49 GMT. It has reached a daily high of $1,787.35 today — the topmost level since February 29.
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