Investors spread the bullish momentum as gold adds $3 ending the shiny metal on $1,320 on Friday.
This brings gold it’s the third consecutive weekly gain, leading hedge fund and other large investors to buy record amount of ounces to maintain their bullish position.
On top of this there has also been a shift in short and long positions of the yellow metal. Bearish positions have rapidly fallen where as bullish positions betting that the price will rise has increased.
So far in 2014 precious metals have been investment winners as Gold and Palladium see strong gains backed up by a positive performance by Silver and Platinum.