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Gold Traded Above Its 100-Day Moving Average in October

from Seeking Alpha

Gold Traded Above Its 100-Day Moving Average in October

Gold rose to a three-month high in late October, trading above its 50- and 100-day moving averages, according to Seeking Alpha. Commerzbank analyst Carsten Fritsch believes that this rise was supported by the recent stock market fall, increasing risk aversion among investors and concerns about Italy. Ross Strachan of Capital Economics also cites “a whole series of situations in connection with Saudi Arabia and Russia” and “trade tensions between U.S. and China” for supporting the yellow metal.

Investors interested in gaining exposure to gold might consider the U.S. Global GO GOLD and Precious Metal Miners ETF (GOAU), which offers investors exposure to companies engaged in the production of precious metals either through active or passive means.

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