Gold Price in 2017 Surges on Rising Syria and North Korea Tensions

Jon Economy, Gold, Market Commentary, Precious Metals

This is a syndicated repost courtesy of Money Morning – We Make Investing Profitable. To view original, click here. Reposted with permission.
The gold price in 2017 has pushed through resistance levels this past week. It has rallied to its highest level since November 2016.
But will gold prices sustain their newfound heights?
The good news: Seasonally, the price of gold is entering a strong period that, on average between 2001 and 2012, has seen gains of almost 4% between early April and late May.
If you combine that with U. S. tensions with Syria and North Korea, investors have plenty of reason to expect gold to power higher.
But gold’s recent move through its stubborn 200-day resistance level of $1,260 may cause headwinds for the metal.

This post was published at Wall Street Examiner by Peter Krauth ‘ April 14, 2017.