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Tracking Lower As The USD Edges Higher

GOLD

Gold has tracked lower through the first part of Thursday's session. The precious metal is off a further 0.25% at this stage. We were last around $1960, albeit above session lows near $1955.50. Gold continues to take its cues from broader USD sentiment, with today's trough roughly coinciding with USD indices peaking.

  • We remain some distance away from key MA and EMA levels. On Tuesday we saw a low close to $1950, while on Monday it was around the $1945 region. On the topside recent highs sit between $1975 and $1980, beyond that is the $2000 level.

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