Gold surged above $1800 in trading today, closing above that key resistance level. Traders in New York took the price of gold futures to $1808, which is a net gain of just over $14. This is the highest value that gold has obtained since the net result of the financial crisis of 2008 took gold above $1900 in 2011.
This is this second attempt to trade and close above $1800 over the last month. That price point has served as a technical resistance level. The first attempt occurred recently, however gold was unable to sustain pricing above $1800. During that failed attempt gold retraced to approximately $1765.