Gold prices are moderately higher and hit a fresh three-month high in late-morning trading Thursday. The very weak U.S. dollar index that hit a four-month low Thursday is an underlying bullish factor for gold and the precious metals markets. The gold market bulls have also gained upside technical momentum this week by producing an upside “breakout” from the recent trading range on the daily chart. Buy stop orders were also triggered when June gold futures pushed above key technical resistance levels on the daily chart. June gold was last up $7.70 an ounce at $1,226.10.
via Kitco
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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