Gold bugs are zeroing in on $1,370. And with good reason: That will be the critical level for the metal in this week's trading.
Gold showed tremendous strength late in the day on Tuesday and into New York's CMX floor close, pressing the market through new highs and reaching $1,348.70. The rally also coincided with a lower-than-expected yield in a two-year auction, which also provided support to the treasury market, and signaled a move toward safety.
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