Gold Hits 5-wk High, Technicals Suggest More Upside

Published: Jun 5, 2017 11:59

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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.

Jim Wyckoff

Friday June 02, 2017 12:53

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'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's gains were also bolstered by a drop in the U.S. dollar index to a six-month low, following a downbeat U.S. employment report for May. August gold was last up $9.80 an ounce at $1,280.00.

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