Gold resumed upward move and trades at highest level since mid-February
Gold is trading 0.5% higher today but other precious metals experience even bigger moves. Silver and platinum gain 0.7% and 1.0%, respectively. On the other hand, palladium pulls back more than 1%, what highlights mixed feelings over fundamentals for the precious metal with the biggest industrial use.
When it comes to gold, we can see an attempt to break above the $1,845 resistance today and should it succeed, bulls may aim for $1,850 handle and a 50-session moving average. Non-manufacturing ISM index for February from the United States will be released today at 3:00 pm GMT and the release may trigger a volatility jump on USD market, yields and gold.
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Source: xStation5
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