Gold surges to a new record in Asian trading

Gold and gold futures were not trading on Friday, as was noted here at the time, after it had posted a record monthly close on Thursday evening, at $2,229.87. The metal opened even higher in Asia earlier today, commencing live trading at $2,241.74. The low seen earlier was set at $,2,235.75 and it has powered even higher since, reaching a new record high a short time ago, at $2,265.73. That is nearly $35 above the highs seen on Thursday and it has left a gap open on the daily charts too. The high seen ahead of the monthly close was set at $2,231.83. So, it remains to be seen if that gap will be closed at some point in the near future. Once again the reader is drawn to the possibility that significant Central Bank buying lies at the heart of the latest records in the metal. Gold is currently trading at $2,261.60