Gold Skyrockets to Fresh Record Highs

Gold skyrocketed 🚀o/n to a fresh record closing high of $2558 (1.87%), kicking into gear after the ECB cut rates by 25bp.

In our Gold post last week we noted that while it held above $2470 and continued to coil below $2530 it could extend gains towards $2550.

Now that it's above $2550, providing it holds above a layer of s/t support at $2530/20 (sustained basis), the rally can extend towards $2650.