Gold hits a new all time high at $2,737.87

Gold is just now setting fresh record highs. The metal is gaining traction it seems as the European stock markets turn lower and the US futures fall back further. The push higher right now in Gold is sending it closer to a potential, noted target/resistance level mentioned here on Friday. Back then it was just above $2,750, but owing to the changing dynamics of the daily chart, that level has now shifted slightly. Right now it is in place at around $2,752. This is the topside of a rising trend channel. Of course there is no guarantee Gold will lift that high today and even if it does not similar guarantee it will cap the topside. We shall just have to see on that. Gold is currently trading at $2,737.40