Gold pushed above the key $1,400 psychological level on Monday to its highest in almost three months, putting the precious metal within striking distance of bull-market territory.
A combination of weak U.S. economic data on Friday and concerns about geopolitical tensions in the Middle East helped boost gold prices to as high as $1,406 in Asia on Monday, before pulling back slightly to around $1,400.
That put gold’s gains from the lows hit in late June at about 19 percent, just shy of the 20 percent move that would push bullion into bull-market territory.
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