Gold and Silver Prices Soar


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By: Ady Pangesto

Gold prices rose more than $47 during the American session. XAUUSD hit a low of $1,902/oz following the release of US economic data. From the $1,900.51 area, XAUUSD rebounded strongly and traded at $1,946, the highest level since Monday. The overall weakness of the US Dollar triggered a gold rally.

The USD index overall flat, failing to sustain gains and tends to weaken towards the market close. It rose to 93.36 after the better-than-expected US Durable Goods Orders report and is currently below 93.00.

Silver also rebounded sharply in US hours. XAGUSD found support at 26.00 and printed a daily high above 27.00.

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