Gold Hits 2-Month High On More Safe-Haven Buying

January 7, 2016

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(Kitco News) – Gold is higher again today and hit a two-month high on more Safe-haven demand. The near-term technical posture for gold is also improving this week, which is prompting fresh chart-based buying and short covering. World stock markets are under solid selling pressure again Thursday as trader and investor anxiety in the world market place remains elevated on this first trading week of the year. China’s stock market traded for only a half-hour Thursday and then circuit-breakers kicked in to halt trading for the rest of the session.

By Jim Wyckoff, contributing to Kitco News;
Follow Jim Wyckoff @jimwyckoff