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May 20 - 03:55 AM

Gold - Rushes To A New Record High And Should Rise Further

By Jeremy Boulton  —  May 20 - 02:30 AM
  • Gold leaps to $2449.89/oz record peak - up $76/bbl in 2 sessions

  • $2448/oz was next target for this year's rally, $2500 new target

  • Speedy ascent suggests demand is far outstripping supply

  • Pullback likely after rise over $2425 peak 20-day Bollingers - overbought

  • Corrections may be small, toward $2384 - 38.2% Apr-May rise - $173/oz

  • Targets at $2553, $2724 and $3000 may be achieved this year

Source:
Refinitiv IFR Research/Market Commentary

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