Breaking: Gold jumps to $1,767, highest level since Oct. 2012

Eren Sengezer FXStreet

The troy ounce of the precious metal shot higher in the last minutes and touched its best level since October of 2012 at $1,767.31. As of writing, the XAU/USD pair was up 0.58% on the day at $1,766.

The heavy selling pressure surrounding the greenback seems to be fueling the pair's rally on Tuesday. Ahead of key macroeconomic data releases from the US, the USD is suffering heavy losses against its major rivals with the US Dollar Index losing more than 0.4% on the day at 96.58.

Moreover, the risk-on market environment seems to be putting additional weight on the USD's shoulders. At the moment, S&P 500 futures are up 0.78% on the day, suggesting that Wall Street is likely to open the day sharply higher.

Technical levels to consider

XAU/USD

Overview
Today last price	1760.9
Today Daily Change	5.91
Today Daily Change %	0.34
Today daily open	1754.99

Trends
Daily SMA20	1722.3
Daily SMA50	1717.7
Daily SMA100	1659.88
Daily SMA200	1581.42

Levels
Previous Daily High	1763.22
Previous Daily Low	1742.97
Previous Weekly High	1745.46
Previous Weekly Low	1704.28
Previous Monthly High	1765.38
Previous Monthly Low	1670.72
Daily Fibonacci 38.2%	1755.48
Daily Fibonacci 61.8%	1750.71
Daily Pivot Point S1	1744.23
Daily Pivot Point S2	1733.48
Daily Pivot Point S3	1723.98
Daily Pivot Point R1	1764.48
Daily Pivot Point R2	1773.98
Daily Pivot Point R3	1784.73

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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