DGP - Gold Pulls Back And Snaps Back - Levels To Watch
The price of gold reached its all-time peak in 2011 at $1920.70 per ounce. A series of lower highs and lower lows led to a bottom in December 2015 at $1046.20 when the US Federal reserve shifted from a prolonged period of accommodation to tightening credit.
The bounce from the low led to a rally to $1377.50 in July 2016 following the shock of the Brexit referendum in the United Kingdom, but gold failed to follow through on the upside. A correction that followed took gold to a low at $1123.90 in December 2016. The