Gold is skyrocketing as uncertainty continues to dominate with the price climbing to its highest level in seven years, breaking through the key threshold of $1,700 in the process in another signal of strength for bullion. This new rally isn’t related to a swift return of risk-off, but instead driven by the huge increase of the Federal Reserve’s balance sheet.
Technically the trend remains bullish as investors are looking to gold as a safe haven in case there will be a second bearish shock to stock markets after the sharp decline seen earlier this year.
