Gold is seen as a safe haven due to its lack of credit risk, and the recent global banking credit crisis, negative US consumer data, rising central bank stockpiling and weakening of the dollar index is driving demand. Gold is near a make-or-break area at its resistance point near all-time high levels of 2089-2090. While an intraday spike is expected, new purchases at these levels carry significant risks. A better strategy is waiting for a clear breakout before taking a trade in the direction of the breakout.
