Gold makes a move above technical resistance level

Gold has made further progress this afternoon. The metal has lifted above a technical resistance level that held it in check all last week. That was mentioned here earlier and it is the 50 day moving average. That is in place right now at $2,668.35 and Gold has risen to a high so far at $2,673.83. Perhaps the strange thing here is; the USD/JPY has lifted at the same time and not long ago hit a session high at 150.95. It is off that high now though and that has been the catalyst for Gold to press higher. As to how much further it might extend beyond the 50 day moving average is hard to gauge right now. Gold is currently trading at $2,673.35