Gold futures break key technical level as prices rise

13 articles · Updated · MarketWatch · May 8

Front-month contracts settled up $20.60 at $4,720.40 an ounce on Friday, a fourth straight daily gain, after moving above the 21-day moving average and testing the 50-day line.
Analysts said a 0.2% drop in the dollar index and hopes for a US-Iran peace deal lifted demand, while easing oil-price risks could reduce pressure for Federal Reserve rate rises.
Gold is up 1.95% this week and 9.1% this year, though still 11.2% below January's record; central-bank buying, including China's 18th straight monthly reserve increase, continues to support prices.

With central banks ditching dollars for gold, is the era of American financial dominance quietly coming to an end?

Iran calls the U.S. peace deal a 'wish-list.' Is the gold market's rally built on a foundation of false hope?