Futures : Metals Update

Gold grinding higher, each retracement is used to make a higher high and Friday low to 627.3 was a platform to jump $10 higher to 637.

USD is the main driver and Gold is still extremely inversely correlated to the currency.

We expect Gold to find some strong resistance against 642.00 and its behavior around this level will be interesting to find out if we can extend towards 650 and potentially higher.

Resistance is at 631 level for Today and Intraday resistance at 637.