Gold price jumps to highest level in a year rising to $1793

Well this morning we thought we’d have to wait until thursday before the gold price started to take off. Turns out we didn’t have to wait very long at all.

Gold just broke $1790:

 (click for sharper image)

Which means that we’re at levels not seen in about a year.

Gold $:

 (click for sharper image)

And in €s we’re at another all time high:

(click for sharper image)

And in £s we’ve smashed the £1100 level:

(click for sharper image)

So the key question is will this move stick? Given the momentum in the past few weeks, along with the fact this is gold’s third attempt at breaking $1777, and the impressive size of the jump in the price of gold in a matter of minutes, it wouldn’t be surprising to see $1800 this week.

If we can close above $1800 then $1920 will come into view and come quickly.

Thanks should really go to Ben and the boys at the Fed – certainly a goldbugs best friend these days.

Related posts:

1. Spain 10 year bond right at that critical 5.56% level
2. Euro gold price on course for its second highest weekly close ever
3. Gold price keeps testing that $1600 level
4. Gold price holds onto the £1030 level – but 5 years on, and is up over 200%
5. Gold price holding steady around the $1660 level

Link to this article: : http://www.goldmadesimplenews.com/gold/gold-price-jumps-to-highest-level-in-a-year-rising-to-1793-8205/

Posted by Thomas Paterson on Oct 1 2012. Filed under Gold News. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.