If you’re looking for a precious metals trade, it looks like all that glitters, is in fact, gold.
Gold jumped 3 percent to a 6-1/2 month high on Wednesday as risk aversion prompted investors to buy gold and bullion-backed exchange-traded funds as a safe haven.
It’s not unusual for investors to put money in gold when there’s a lot of uncertainty in the market, but the on Wednesday prices pushed through an important technical level – they pushed through resistance just above $930 to reach a peak of $944.30.