Gold for February delivery tacked on $16.40,
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Gold for February delivery tacked on $16.40, or 1.1%, to settle at $1,568.80 an ounce on the Comex division of the New York Mercantile Exchange. The settlement was the highest since April 9, 2013 when gold ended at $1,586.70 an ounce.
"History shows that a big spike up in prices amid higher volatility tends to produce near-term market tops sooner rather than later, after that initial spike up. That means in the coming days the gold market could put in a ‘near-term’ top that will last for a moderate period of time," Jim Wyckoff, a senior analyst at Kitco Metals Inc., said in a daily research note. "However, for the longer-term investors in gold, it’s important to note that the recent strong price gains are a bullish upside technical ‘breakout’ from recent trading levels, to suggest still more price gains are very likely in the coming weeks and months, or longer.
http://www.coinnews.net/2020/01/06/gold-ends-at-6-75-year-high-palladium-marks-new-record/
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