Gold is currently at $1,240.50 (+0.14%). Favorable technical factors and exchange traded funds inflows outweighed stronger stocks. Bullion’s 50-day moving average went above the 200-day moving average bringing the shorter-term price average about $3 higher compared to the longer-term average.
Holdings of SPDR Gold Trust, the largest gold-backed exchange-traded-fund, are at the highest level since March 2015.
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