Gold climbs to highs near $1,350

A sudden bout of buying pressure has lifted the ounce troy of the precious metal to the vicinity of $1,350, or daily highs.

Gold in 2-day tops

Bullion is extending the bounce off Monday’s lows around $1,327 following the strong results from US Payrolls, advancing nearly 1.5% to today’s session tops above $1,345.

Adding to the upbeat sentiment surrounding the yellow metal, the greenback – tracked by the US Dollar Index – is shedding further ground to the vicinity of 96.10, where is currently located the 55-day sma.

Gold key levels

As of writing Gold is gaining 0.29% at $1,345.25 facing the next hurdle at $1,366.00 (high Aug.2) ahead of $1,374.90 (2016 high Jul.6) and then $1,391.40 (2014 high Mar.17). On the other hand, a breach of $1,327/80 (low Aug.8) would aim for $1,312.80 (low Jul.21) and then $1,301.34 (23.6% Fibo of the 2016 up move).