Brexit Pushes Gold to Touching Distance of Key Price: ChartBy
Haven demand before a U.K. vote on whether to stay part of the European Union has brought gold within touching distance of a level some traders see as key. A close above $1,308 an ounce, the highest price in 2015, will help build a more bullish long-term case for gold, according to analysts who look at chart patterns for trading clues. "A close above last year’s high will prove the rally is on and could spark a break higher," said Andy Pfaff, chief investment officer for commodities at MitonOptimal Group in Cape Town.
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