Gold Surges Well Into The $1200 Handle

April Gold futures are trading higher by $58 at $1252.60. It traded higher in six of its last seven sessions (on Wednesday it lost $4), rallying over $125 from its February 2 close ($1127.20) to its current level. It's $50 plus rally, is reminiscent of its trading action in mid-2011, when it made its all time high of $1956.20, based on the rolling front-month contract. Today's high of $1263.90 marks its highest level since February 6, 2014 when it peaked at $1271.40.