Gold clinches YTD tops near $1,330.00/oz

The ounce troy of the precious metal is moving higher on Tuesday, advancing to fresh 2017 peaks around $1,330 following an increased selling bias around the greenback.

Gold up, USD collapses

The current sell off around USD is helping the yellow metal to advance to fresh tops in the vicinity of $1,330, levels last traded in September 2016.

In the meantime, the US Dollar Index remains entrenched in the negative territory, breaking below the key 92.00 support for the first time since January 2015.

Furthermore, another missile launch from North Korea earlier today has boosted the risk-off trade and thus the demand for safe haven assets, adding extra legs to the rally in Bullion.

Gold key levels

As of writing Gold is up 0.70% at $1,324.57 and a break above $1,344.45 (high Sep.23 2016) would open the door to $1,350.50 (high Sep.7 2016) and finally $1,366.00 (high Aug.2). On the downside, the immediate support emerges at $1,298.67 (10-day sma) seconded by $1,285.83 (21-day sma) and then $1,281.30 (low Aug.25).