Gold Progressing

On Friday, the yellow metal has risen 15 dollars to close at 1293.85, just over its double top resistance of 1291.50. Last week, it has been ending over the 100-day moving average and now we might even see a topside breakout. Since the greenback has mildly increased in Asia today, the metal dropped 1.50 dollars to 1291.75. Daily support is at the minimum of 1291.15, resistance is at Friday’s maximum of 1297.75, which is followed by 1300.00 and 1306.50. Silver improved, settling at 17.2950. Throughout last week, it has tested the trend line support for three times. Today, due to dollar’s lift, silver dropped 10 cents to the 200-day moving average and interim support of 17.1625.