(CercleFinance.com) – The recent rise in long-term rates in the US and Europe has had no effect on gold since the end of June: the ounce even rose from $1,900.6 (June 30) to $1,975, then $1,978.5.
Beyond 1.978, gold would break above its June 1 or May 22 levels and could accelerate higher towards $2,040, and perhaps retrace the historic yearly zenith of $2,062/$2,065.
But beware: at least 3% of this rise is mechanically explained by the weakness of the $.
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