Gold prices are trading higher, have hit a five-week high and are heading for a technically bullish weekly high close on a Friday.

No Bears In Market: Wall Street Sees Higher Gold Prices Next Week

<a href="http://www.kitco.com/reporters/JimWyckoff/">Jim Wyckoff</a>&nbsp;&nbsp;

Friday June 02, 2017 12:53

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Gold prices are trading higher, have hit a five-week high and are heading for a technically bullish weekly high close on a Friday, in midday U.S. trading action. Friday&#39;s good gains suggest there will be more upside price action in gold early next week. The gold market has been trending higher for the past three weeks. Friday&#39;s gains were also bolstered by a drop in the&nbsp;<a href="http://www.kitco.com/finance/details.html?j1_module=indiceDetail&amp;popup=1&amp;j1_symbol=%24DXY&amp;j1_override=&amp;j1_region=">U.S. dollar index</a>&nbsp;to a six-month low, following a downbeat U.S. employment report for May.&nbsp;<a href="http://www.kitco.com/finance/futures/details.html?j1_module=futureDetail&amp;popup=1&amp;j1_symbol=GCQ17">August gold</a>&nbsp;was last up $9.80 an ounce at $1,280.00.