FXStreet Gold broke out today, at last, from his since the beginning of the week current Trading Range upwards and climbed to a new Three-week High close of 1,267 USD ahead of the US economic data.
The precious metal has been increasing since this morning, inexorably to the North. The reason for this is a broadly weaker of the Greenback. The US Dollar Index gave up its gains after the good time proposals, in the framework of the US unemployment insurance, which were released on Thursday afternoon, and returned back below the psychologically important mark of 97,00 points.
For tailwind, the low risk appetite in international financial markets, which supported the yellow metal with its Status as a safe haven, in addition, also caused.
Today’s upward movement is likely to be due to the fact that an increase in interest rates by the us Federal reserve in June is already priced in. The US economic data in the Form of gross domestic product, of the orders of long-lasting economic, is likely to be goods and consumer confidence is disappointing, it is expected that a further Upward momentum.
The next Resistances lie at 1.268 USD, and 1.275/76 USD. Supports are at 1,260 USD to see $ 1,250, and 1.244/43 USD (200-day line).
** FXStreet News Editorial, FXStreet**