Institutional demand for gold has risen recently. Changes in social and political spectrums are also stoking the demand for gold. But it is the increased buying of gold by central banks around the world that is the real force behind the rising gold price. This is all part of the global move away from the U.S. Dollar as the world’s key currency and the growing distrust of the international monetary system. The long-term implications of this trend, if it succeeds, is obvious.
Gold currently has a massive resistance zone at 1352 to 1370, which will be tough to overcome.
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