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Extending Thursday's Gains, Up +2% For The Week

GOLD
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Gold has maintained a mostly positive trajectory in the first part of Friday dealing. We were last around $2353/54, up a further 0.30%, after Thursday's +1.6% gain. Earlier highs came in just shy of $2356.

  • Thursday's gains came amid a broader USD pullback, as softer jobs claims data weighed on US yields. We have seen some USD stability/gains against the majors today, but this hasn't impacted gold sentiment greatly.
  • Gold is tracking comfortably higher for the week, up +2.25% at this stage. This would be the first weekly gain since mid April. We are comfortably back above the 20-day EMA (around $2320/21). Mid April highs came in north of $2431.
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Gold has maintained a mostly positive trajectory in the first part of Friday dealing. We were last around $2353/54, up a further 0.30%, after Thursday's +1.6% gain. Earlier highs came in just shy of $2356.

  • Thursday's gains came amid a broader USD pullback, as softer jobs claims data weighed on US yields. We have seen some USD stability/gains against the majors today, but this hasn't impacted gold sentiment greatly.
  • Gold is tracking comfortably higher for the week, up +2.25% at this stage. This would be the first weekly gain since mid April. We are comfortably back above the 20-day EMA (around $2320/21). Mid April highs came in north of $2431.