Breaking: Gold breaks above $2000, further upside in play – Confluence Detector

Gold trades on a solid footing and regains the critical $200 mark, as the US dollar remains intrinsically weak on several fronts specific to the US. The Treasury yields remain pressured amid dwindling economic recovery and fiscal stand-off.  

Meanwhile, the safe-haven gold benefits from renewed US-China tensions on the Hauwei issue. Investors also look for safety in gold ahead of Wednesday’s FOMC minutes. Let’s look at the key technical levels for trading the gold’s latest run higher.

XAU/USD: Key resistances and supports

The tool shows that gold has taken out the key $2000 hurdle, the psychological resistance.

more to come ...