gold news // "Gold up 4th Week in Row, Triumphing Over Inflation Data

Gold’s naysayers have done all they can to pooh-pooh the yellow metal’s return to $1,800.
But the negative talk hasn’t been able to stick long enough to do the damage they intended, despite gold’s occasional bearish forays into $1,700 territory this week.
At Friday’s settlement, both futures of gold on New York’s Comex and the spot price of bullion were back in the $1,800 zone, finishing up for a fourth straight week.
“This will be an interesting test for gold as $1,800 could represent an interesting rotation point from a technical perspective if there is no desire to see it above here but ultimately the case for bullish gold remains quite compelling,” said Craig Erlam, analyst at online trading platform OANDA.

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