The power of gold; Above $1800 and at the highest value since 2011Gold surged above $1800 in trading today, closing above that key resistance level. Traders in New York took the price of gold futures to $1808, which is a net gain of just over $14. This is the highest value that gold has obtained since the net result of the financial crisis of 2008 took gold above $1900 in 2011.
This is this second attempt to trade and close above $1800 over the last month. That price point has served as a technical resistance level. The first attempt occurred recently, however gold was unable to sustain pricing above $1800. During that failed attempt gold retraced to approximately $1765.
However, over the last three trading sessions gold prices have closed higher for three consecutive days, with each day having a higher high and higher low than the previous day. Today is the third consecutive day of higher closes, the distinction is today’s close was well above $1800..........
https://www.kitco.com/commentaries/2020-07-07/The-power-of-gold-Above-1800-and-at-the-highest-value-since-2011.html