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.
Oil demand surges in the U.S. according to the EIA and the IEA as low prices spark a buying frenzy. Yet could a budget deal that increases the odds of an early taper temper rising demand expectations?
Major indexes succumbed to marginal profit-taking Tuesday, while the S&P 500 and Dow 30 remained relatively trend neutral.
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.