Gold Breaks Above $1,800

Gold reached $1,800, hitting the highest level since November 2011, surpassing a previous high of $ 1797, and it is now functioning as support.

Investors are looking for levels of 1,810 then 1,825, 2011 peaks at under the spotlight at 1,921 and 2000.

Gold is ready to post more bullish trend and the next target is 1,812. Gold gets more support from the Federal Reserve as well as tensions between the United States and China, all of which provide momentum for the safe haven, the metal.

The peak as of writing was 1,800.39, the metal retreated after the initial rally. Stop-loss orders may have been executed after the first break.