Escalating Geopolitical and Economic Tensions Push Gold Above $3,400
This week has seen gold futures exhibit strong momentum with bullion climbing passed the psychologically critical $3,400 an ounce price level. This comes as a blending pot of heightening economic and geopolitical uncertainties takes center stage around the world. Futures contracts slated for delivery in August this year witnessed solid buyer interest and ended the trading day on Thursday at $3,408. This reflected a 0.97% gain for gold on the day. This rally is especially notable because technical traders will not lose sight of the fact that in just three days of trading from Monday, bullion has climbed by at…