PHYS - Gold has reached a 4-month high and is looking to cross $1900
Gold looks to cross the $1,900/oz mark as the precious metal is creating recent gains and trading at a four-month high. The price of gold has not seen these levels in trading since January 8th, earlier this year.Gold saw a jump in price in Tuesday’s trading session following the U.S. new home sales report, which missed expectations in April. April new home sales: -5.9% M/M to 863K vs. 955K expected and 917K prior (revised from 1.02M).Furthermore, the price of gold has now closed positive in thirteen of the last sixteen trading sessions as the safe-haven asset has gained more demand by investors.The price of gold since the beginning of April is +10.64%. At the same time, the U.S. dollar index has slid -3.76% from 93.35 to below the 90 handle, trading at 89.71. Below is a chart of the two and how they have traded inversely since April 1st.For market participants that are interested in
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Gold has reached a 4-month high and is looking to cross $1,900