Gold price soars to 5-mth high on geopolitical unrest — RT Business

Bullion rose 0.2 percent on Wednesday to $1,274 per troy ounce as of 9:40am GMT after earlier reaching its highest level since November 10 last year of $1,279.85.

“Gold has finally broken and closed above its 200-day moving average at $1,257.50, which now becomes a support. From a technical perspective, the way is now clear for a run at $1,300 and possibly higher,” said Jeffrey Halley, senior market analyst at OANDA.

“A serious escalation could see gold to the $1,380 to $1,400 area tout suite, but it would have to be really serious,” Halley told Bloomberg.

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