Gold bullion rises in the third session up to now, testing the 2-month summit just below the $ 1,300 critical barrier on verbal threats and rising concerns between North Korea and the United States.
Gold has managed to advance despite the better looks around the USD, and now targets the 2017 summit seen at around $ 1,298 last June. At the same time, the US Dollar Index continues to stay at the top of its recent range at around 93.00, shrugging off yesterday’s NY Fed W. Dudley’s slightly tightening tone and the Producer Price Index (PPI), which is below expectations.
Later in the session, the US Consumer Price Index (CPI) will draw all attention. In addition, the speeches of Dallas Fed President Robert Kaplan and Minneapolis Fed President Neel Kashkari from the FOMC will be closely watched.
Gold is currently trading at $ 1,292.48 with a gain of 0.10%.
Important technical levels for gold
The levels of resistance at 1,294.60 (August 11 summit), 1,297.40 (April 14 summit) and 1,298.80 (June 6 summit 2017), 1,280.30 (August 10 bottom), 1,276.00 (10-day SMA) and 1,262.59 (61.8% Fibo June- Support for the parity.