Gold turns positive for the day after spending most of the day in a consolidation range. US Dollar moves of lows, helping the resistance area at $1950. Gold prices broke a tight range and climbed to $1,950.65/oz, reaching the highest level in two days. The yellow metal so far failed to make a run above $1950 as the area continues to limit the upside. A weaker US dollar across the board is supporting the move higher. The US Dollar Index is falling 0.35%, off lows. Earlier the DXY bottomed at 92.94 but it was rejected from below 93.00. The greenback has not been able to benefit from US economic data, neither from higher US yields. Initial jobless claims dropped below 1 million for the first time in 21 weeks, showing numbers below market consensus. Also, continuing claims fell more than expected. A positive sign for claims that resumed the downtrend after weeks of consolidation. Regarding yields, the US 10-year reached at 0.69% the highest level in a month. The rebound from lows capped the upside in gold that continues to trade near but below the $1950 area. A break higher should clear the way to more gains. On the flip side, immediate support is seen at $1935 followed by the lower limit of today’s range at $1920 and then the $1905 area. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next WTI breaks below daily consolidation channel, drops toward $42 FX Street 2 years Gold turns positive for the day after spending most of the day in a consolidation range. US Dollar moves of lows, helping the resistance area at $1950. Gold prices broke a tight range and climbed to $1,950.65/oz, reaching the highest level in two days. The yellow metal so far failed to make a run above $1950 as the area continues to limit the upside. A weaker US dollar across the board is supporting the move higher. The US Dollar Index is falling 0.35%, off lows. Earlier the DXY bottomed at 92.94 but it was rejected from below 93.00. The greenback… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
