Gold price rose over 3% during today's session as geopolitical and economic uncertainties surrounding the Russia-Ukraine war lifted demand for precious metals. Gold extended gains after reports of a US and UK ban on Russia oil. There's also talk that could scuttle an Iran nuclear deal which also weighs on market sentiment. Moreover, the London Bullion Market Association suspended six Russian precious metals refiners, prohibiting them from selling gold and silver in the London market.
Gold continues to move sharply higher after breaking from the triangle formation. Currently the price is moving towards all-time high at $2075.00. The text-book range of breakouts from this type of formation is located slightly above this level. Source: xStation5
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