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Is Syria Really Causing Gold’s Rally?

from KitcoNews:

Jim Wyckoff talks gold on Kitco News as it hits a 3-month high on this edition of “Technically Speaking.”

Is this boost in gold prices due to safe-haven demand or short covering? Unrest in Syria has strained the markets recently and gold may see more safe-haven demand if U.S. military intervention causes further instability and violence, says Wyckoff. In Europe, German Finance Minister Wolfgang Schaeuble acknowledges that Greece will need further assistance, but says there will be no further “haircuts.” His comments come as the German Ifo business confidence index rose for the fourth month in a row and to its highest level in over a year. “This is yet another signal that the EU’s biggest economy is helping to pull the Euro zone out of economic recession,” Wyckoff adds. Tune in now to hear his take on gold and silver during this unprecedented run in the markets.

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