Gold Stampede Due on Soaring Price

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Given the dollar's continued losses and the strength in the energy sector it looks as if gold will find further upside momentum in the coming sessions, potentially targeting $765 before more significant profit-taking is seen," said James Moore of TheBullionDesk in his London Bullion Report.

Gold hiked to a fresh 28-year high of $739.40 a troy ounce on Friday morning as the dollar struggled to shrug off inflationary concerns and the oil price reached record highs...

"Given the dollar's continued losses and the strength in the energy sector it looks as if gold will find further upside momentum in the coming sessions, potentially targeting $765 before more significant profit-taking is seen," said James Moore of TheBullionDesk in his London Bullion Report.

"On the charts, gold has moved back into overbought territory and may benefit from a period of consolidation. However, the absence of any significant resistance levels means that gold is in uncharted territory and making its own history," Moore said...

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