Gold is headed for it’s first four-week winning streak in more than a year. Prices are higher on Friday by $10 to $1253.
Bullish news this week included a decision by Chinese authorities to relax physical import restrictions along with buying ahead of Chinese New Year. Prices peaked Tuesday at $1257 and that remains the near-term hurdle for gold bulls, followed by the December high of $1268. Gold last gained in four consecutive weeks in Aug-Sept 2012.
One of the factors in gold is FX weakness. Gold priced in euro is trading at the highest since Nov 26 and gold priced in yen at the highest since Nov 8.
Gold priced in euros
