Gold shines on Italy turmoil…but for how long?

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Gold is poised to remain in the limelight this week after aggressively appreciating roughly $18 in a three-hour window.

The yellow metal surprised markets on Tuesday by soaring from $1,190 to $1208.10 reaching the highest level since September as jitters around developments in Italy fuelled risk aversion. With the Gold prices powering higher even against a broadly stronger Dollar, speculation is likely to heighten over bulls making a return. While the current picture does suggest further upside in the near term, the fundamental themes weighing on Gold still remain intact.

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