Gold News: Gold Eyes Breakout Trigger at $3349.19 on Weaker Dollar

Gold News: Gold Eyes Breakout Trigger at $3349.19 on Weaker Dollar

From fxempire.com

Gold prices pushed sharply higher on Tuesday, reclaiming the 50-day moving average at $3320.70, now acting as new support, and holding firm above a pivot at $3310.48. The metal is testing its 50% retracement of $3347.97 within the $3451.53 to $3244.41 range, with momentum poised to accelerate if buyers clear this level. At 10:48 GMT, XAU/USD is trading $3348.74, up $45.59 or +1.38%. The dollar index dropped to its lowest since early 2022, making gold more attractive for overseas buyers. The greenback slipped 0.64% against the yen and 0.33% against the Swiss franc, with the euro holding near a four-year high. The drop ... (full story)

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