The gold price is jumping again as investors add some liquidity to safe havens in response to the riots in the US. Moreover, the weakening of the greenback is further supporting the current positive mood towards bullion. In short, the majority of investors are still seeing gold’s recent correction as a chance to buy the dips rather than a time for selling the precious metal.
Technically, the spot price has rebounded last week from the support zone of $1,700 and is now getting close to resistance placed at $1,750. A clear climb above the previous highs ($1,747 on closing and $1,765 intraday) would open space for further rallies.
