Here's a little gold puzzle for you to ponder as you're getting ready for the weekend. See if you can figure it out.
West Texas Intermediate traded near the highest price since October after data showed U.S. inventories declined for a second week.
U.S. stocks fell, pulling the Standard & Poor’s 500 Index down from a record, and the yen strengthened as concern American lawmakers will fail to reach a budget deal overshadowed better-than-estimated economic data. Oil, gold and coffee led commodity gains as the dollar weakened.
FEB14 gold shot up this morning, trading up $27 to $1,261. $1275 is our next key target and resistance level. Gold now looks like it could have some momentum to the upside, and possibly approach $1,290.