Gold buyers benefit from risk off flows and a nice technical hold earlier this week

Stays above 100 hour MA

Gold is up near $19 today at $1347 and for the week is up from a low of $1307.

The run higher is being fueled by a risk off flows which sends money into the relative safety of the precious metal.

Also technicals played a role as well.

At the low this week, the price sniffed the 100 day MA (blue line) but found support buyers. The price has not traded below the 100 day MA since the end of December. That is bullish technically.

The price is moving closer to a topside trend line at the $1355. A move above that level will be more bullish and start to target the Jan and Feb highs at $1366 (January high) and closer in, the February high at $1361.

A move above those levels and the buying momentum can continue.