Gold gains $53 to $4147
Gold rallied in Asia, holding gains in quiet holiday trading. It’s up $53 to $4147, looking to climb for the first week in five.
The gain came in a burst in Asia, topping out at $4194 before chopping sideways. Gold has struggled since topping at $5418 just before the Iran war.
The US dollar’s strength has been a problem for gold, but yesterday’s weaker non-farm payrolls number led to broad USD weakness and a significant jump in gold.
Technically, gold looks like it’s trying to form a base at $4000, needing to retake $4400