The gold price scaled $1,300 an ounce for the first time in more than a month, after comments by US Federal Reserve chair Janet Yellen yesterday and a huge buyer lit a fire under traders.

On the Comex division of the New York Mercantile Exchange, gold futures for August delivery – the most active contract – jumped to a day high of $1,322.00 an ounce, up $49.30 or nearly 4% from yesterday’s close.

After months of subdued trade on gold futures markets volumes surged on Thursday leaping past 210,000 contracts – double recent daily averages – by mid-afternoon.

As the chart shows….continue reading HERE

….continue reading HERE

Hat tip Investor Relations Vancouver