The precious metal continued to push higher as it rallied to fresh six-year highs. Gold gained over 1.5% on Monday as it comfortably closed past the $1400 level an ounce.
The gains in gold prices come with a mix of a weaker USD and a call from President Trump for the Fed to cut rates. The US-Iran tensions also contributed to the solid gains.
Will Gold Hit 1450 an Ounce?
The current bullish momentum in gold prices could see the precious metal rising to the 1450 handle which marks the next key level of interest. Price is now posting gains for the sixth consecutive week. The main resistance level is seen at 1470 handle. To the downside, the latest support is at 1404.50 which could stall any short term correction in prices.
