Weekly Fundamentals – Gold’s Rally Driven by Fall in Yields and USD, and Geopolitical Tensions

The breach above US$ 1350/oz on Friday has brought gold price to the highest level in 13 months and is approaching a key resistance – the 2016-peak. For a third weekly rally, the benchmark Comex gold contract gained +1.63%. The yellow metal has rallied +17% since the beginning of the year and the upward momentum has accelerated since July.

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