Gold today has moved higher. It is currently trading up around $13.12 at $1767.48. The high price has reached $1769.29.

The run higher has taken the price above the May high of $1765.43 (see weekly chart above). The next target would be the 2012 high price at $1796.08. The all-time high price from 2011 reached $1921.17.

Gold is up $12 to $1756 on the day and at that level it would be the highest close since 2012.

The intraday high of $1765.43 is the more-important level. It was reached on May 18 but on that day after tagging the high, gold reversed to finish at $1732 and we’ve been stuck in the range ever since.

A break higher could spark a massive run in gold. All the conditions are aligned with high uncertainty, massive monetary easing and unprecedented government spending. All it needs now is a bit of momentum.