Gold Is Surging To Start The Week

Business Insider

Futures markets have re-opened to begin the week, and gold is surging.

The shiny yellow metal is up 1.4% from Friday's close in Sunday evening trading at right around $1330 an ounce. Meanwhile, silver is up 2.6%, and S&P 500 futures are 0.2% lower.

The chart below shows the nice bounce in gold futures tonight.

View gallery

.
/gc

Thinkorswim

" With the yellow metal holding 1270, we look for a base and resumption of the larger bull trend for 1410, potentially 1450," wrote BofA Merrill Lynch technical strategist  MacNeil Curry in a note to clients Friday. " A close above 1328 confirms."

View gallery

.
Gold technical analysis

BofA Merrill Lynch Global Research, CQG




More From Business Insider
View Comments (0)