Gold Futures Trading Higher

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Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.
Gold futures were trading higher by $9.50 at $1162.10 in Wednesday's session. The rash of cyber attacks has investors looking for a safe haven and have looked to the Gold market for an investment alternative. In the after-hours session, the bouillon found support just under Tuesday's low ($1146.80), which is a few dollars ahead of its multi-year low ($1143.40), reaching $1145.90 before rebounding. Tuesday's close of $1152.60 was the second lowest close of the down move; The lowest being $1150, which occurred on the same day the multi-year low was put in place. So far, the rally has paused ahead of Tuesday's high ($1170), reaching $1163.80, which it is trading at this time. The
SPDR Gold Trust (ETF)GLD
was trading at $111.49, up $0.73.
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Posted In: FuturesTechnicalsCommoditiesIntraday UpdateMarketsMoversTrading IdeasGold
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