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Gold climbs above $1,150/oz, fresh 3-month highs

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 4, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Gold continued to rise during the American afternoon and reached fresh 3-month highs above $1,150 an ounce.

    The yellow metal climbed to a peak of $1,557 an ounce, on the back of a weaker dollar, which was pressured further by disappointing jobless claims and factory orders data on Thursday.

    At time of writing, the metal is trading at $1,154 an ounce, up 1.1% on the day. At session highs, gold was at its highest since October 29 when it traded above $1,160/oz.

    Gold is on track to post its fifth daily gain in a row while investors attention turns to the US nonfarm payrolls to be published on Friday. The report is expected to show that the US economy added 190,000 jobs in January, down from a 292,000 gain in December.
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