Gold Prices Flirt With All-Time High
The global prices of gold or the XAUUSD pair has recently revisited its all-time peak as it jumped towards the $2,786.00 area following its move past the ceiling of a midrun base. While the commodity may soften in the very short run as it trades right at the proximity of its resistance at its all-time peak, the direction of its primary trend alongside its upside breakout from a 3-month consolidation will allow it to eventually surpass its $2,787.00 high. With that, we can therefore expect local gold producers such as Apex Mining, Oceanagold Philippines, and Philex Mining to benefit as well.
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*Consensus target price or average target price given by the major foreign and local brokers of various stocks on top of index names are available in our Equity Advisor!
