The decline of stock markets seen yesterday, and the fall of the US Dollar are once more lifting up gold. Investors are facing an increased volatility in currency and stock markets and gold is strengthening, once again as a safe haven. Traders and fund managers are hedging gold against turbulence in stocks and further declines of the greenback.
From a technical point of view the strong rebound seen in the last 48 hours, after the test to $1,900, is still showing strength from buyers.
