August Comex gold futures are trading higher shortly before the regular session opening. After hitting a six-week low on Monday on a fluke trade, the market is being driven higher today by bargain hunters and a weaker U.S. Dollar.
The dollar is down against a basket of currencies, led by a surge in the Euro. The single currency is being supported by hawkish comments from European Central Bank President Mario Draghi. The EUR/USD surged to its highest level in over a week after Draghi said factors weighing on inflation in the Euro Zone were mainly temporary and the ECB could look through them.
Read more via Gold Price Futures (GC) Technical Analysis – June 27, 2017 Forecast | FXEmpire.com