Gold is at its highest since September as it continues to climb over political unrest in the Ukraine. Poor global economic numbers are also adding to the run.
The Fed fought to keep gold in the $1200-$1250 range from November through the first week in January and were forced to give up the fight. We are still seeing gold shorts by Fed banks but turmoil for the time being is trumping their hand.
Expect the Fed to continue fighting recent gold gains. They enjoy buying it on the cheap and don’t need the added pressure coming against the dollar.
Gold Goliath is not your typical gold dealer.