Gold Closes Above $1,400, Posting Best Week in Three Years
- Citigroup analysts called the enthusiasm in bullion justified
- ‘There has been a dramatic change in sentiment’ in gold: Day
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Gold is back in favor.
Prices have surged this month, passing $1,400 an ounce for the first time since 2013. It’s become easy to find reasons to be bullish. Everything from dovish central banks, technical indicators, negative-yielding bonds and fears of a military strike between the U.S. and Iran are all working in favor of higher bullion prices.