CHART OF THE DAY: Gold Is Surging To Start The Week

Futures markets have re-opened to begin the week, and gold is surging.

The shiny yellow metal is up 1.4% from Friday’s close in Sunday evening trading at right around $US1330 an ounce. Meanwhile, silver is up 2.6%, and S&P 500 futures are 0.2% lower.

The chart below shows the nice bounce in gold futures tonight.

“With the yellow metal holding 1270, we look for a base and resumption of the larger bull trend for 1410, potentially 1450,” wrote BofA Merrill Lynch technical strategist MacNeil Curry in a note to clients Friday. “A close above 1328 confirms.”

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