Gold Has Regained Its Footing, Moving Higher

Gold prices on the April 08 futures contract have struck a new all-time high price over $950/oz. during trading over the past few hours. After nearly two months of relatively flat trading, gold has regained its upward momentum.

Look at the blue circle in the bottom panel of this daily chart, which depicts the Klinger+ATR volume indicator, and heavy accumulation activity as fund managers continue to vigorously buy gold. I first noted this phenomenon several days ago on this blog before gold prices started to surge upward again. The Klinger Volume indicator shows unbelievably strong volume buying by funds. More fund activity is moving toward gold and commodities, and away from U.S. government debt.