Gold soars as geopolitical tension remains unresolved, chart levels and lifting 2017 gains by 10%

Gold soars

Gold futures posted a record breaking session in the previous session as investors took risk positions off the table as tensions as geopolitical tensions continue to rise. Gold posted a breakout session in Tuesday’s trading session.

The prices of precious metal futures leaped by another 1.6 percent during the regular session and brought the gold to a year-to-date gain to above 10 percent. The precious metal continued to go further up in the after-hours trading with the futures reaching the peak of 1,277.40, which is their highest level since November 10.

The gold futures also surpassed the average price in the last 200 days, a common measure used by technical analysts to determine a trend.

Investor have a lot to consider before trading, one of these was that missile launch last Thursday that was aimed at  Syria as a direct response to a recent alleged chemical attack by the Syrian government.

The U.S. Secretary of State Rex Tillerson is currently in Moscow to try in hope to negotiate a path to end the Syrian war.

President Xi Jinping of China was a guest at Trump’s Mar-a-lago estate during the air strike on Syria. Investors also pondered into gold stock. The VanEck Gold Miners ETF was most recently up by 3 percent, on a pace that is for its best daily performance since March 15, when Precious metal futures went up by 7.96 percent.


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