Renewing all-time highs earlie

Renewing all-time highs earlier today, around ~$4,218, gold (XAU/USD) has extended gains further so far in this week’s trading.

Benefiting from a perfect storm of macroeconomic themes, it would seem that there is no shortage of tailwind for the current gold rally.

From a classical technical standpoint, the market is confirming a sustained long-term bullish move, with the 20, 50, 100, and 200-period SMAs all offering support below current price action.

Gold Breakout! Take Profit at High or Momentum Trade Now?

Gold prices are poised to set a new high-water mark, as this year's dramatic rally in the precious metal regains momentum. Most actively traded gold futures contracts rose more than 1%, and recently stood at more than $4,373 a troy ounce. If that price holds through the end of regular trading, it would set a new record.

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