Not only did the yellow metal started Monday's trading session higher, it also has managed to surge above the 1,250 mark and break the resistance, which kept it lower during the past three trading sessions.
The common European currency fluctuates against the US Dollar above the 1.0850 mark. The reason for that was the fundamental fall of the Greenback, as Donald Trump's healthcare bill was not voted on in the US.
The number of Americans filing for unemployment benefits rose more than expected last week, hitting the highest level over the past seven weeks, official figures revealed on Thursday.
UK retail sales posted the largest drop in almost seven years in the three-month period to February amid higher fuel prices that put pressure on household budgets.
During its retreat the bullion seems to have found a temporary support, as the weekly R1 at 1,242.38 is keeping the commodity price from falling even further.
During the early hours of Friday's trading session the Euro lost ground against the US Dollar, as the currency exchange rate passed the support provided by the monthly R1.
Residential home sales plunged in February despite the promising start of the year. Contrary to experts' forecasts, total existing home sales slipped 3.7% over the month of February.
British inflation surpassed the Bank of England's target of 2% last month, official figures released on Tuesday showed.
As expected, the yellow metal recently reached the 1,250 mark. However, a long term trend line forced the bullion to retreat, and the retreat lasted into Thursday's trading session.
During the early hours of Thursday's trading session the common European currency continued a retreat against the US Dollar, which had begun on Wednesday.
The number of Americans who filed for unemployment insurance last week decreased to 241,000, a survey from the Labor Department revealed on Thursday, following the preceding week's 243,000 filings.
British inflation surpassed the Bank of England's target of 2% last month, official figures released on Tuesday showed.
During the early hours of Wednesday's trading the yellow metal's price was fluctuating between the weekly R1 at 1,242.38 and the 50.00% Fibonacci retracement level, which is located at the 1,248.96 level.
The Euro has paused its surge against the Greenback at the weekly R1, which is located at the 1.0814 level. It still remains to be seen whether
During the early hours of Tuesday's trading session the yellow metal's price declined. However, most technical signs showed that the bullion was about to regain the lost ground and continue the surge.
As forecasted before, the common European currency broke the resistance of the monthly R1 against the US Dollar during the morning hours of Tuesday's trading session.
The number of Americans who filed for unemployment insurance last week decreased to 241,000, a survey from the Labor Department revealed on Thursday, following the preceding week's 243,000 filings.
The Bank of England left its monetary policy unchanged at its March meeting on Thursday.
The yellow metal continues to score gains, as it approaches the monthly PP, which is located at the 1,236.39 level.
The common European currency continues to attempt to score more ground against the Greenback, as the currency exchange rate is located below the monthly R1, which stands firm at 1.0772 level.
US industrial production was unchanged last month, while market analysts anticipated an increase, official figures revealed on Friday.
US industrial production was unchanged last month, while market analysts anticipated an increase, official figures revealed on Friday.
The number of Americans who filed for unemployment insurance last week decreased to 241,000, a survey from the Labor Department revealed on Thursday, following the preceding week's 243,000 filings.
The yellow metal traded above the 1,225 mark on Friday morning. However, it is most likely that new heights will be booked.