Gold is steady at $1,728, close to its 8-year-high after new measures were announced by the ECB, which will be finalized in the first week of May. In this new world in which both the ECB and the Fed continue to unleash new stimulus packages, dramatically increasing the liquidity of cash, combined with a lot of uncertainty, gold will remain in high demand and playing a key role in any investor’s portfolio.
Technically the trend remains bullish and a climb above $1,730 would open space for the price to test $1,747 again, with a good chance of a new high being recorded for this haven asset.
