Gold

Gold prices rose on Wednesday to reach a two-week high as U.S. data showing solid home sales but a fall in mortgage applications pushed the dollar to a two-week low. Gains in bullion were limited, however, by a rise in U.S. bond yields to nine-month highs after the Congress passed the country's biggest tax overhaul in decades.
Spot gold was up 0.3 percent at $1,265.26 an ounce, after rising to $1,267.81, the highest since Dec. 6. U.S. gold futures settled up 0.4 percent at $1,269.60. Gold has risen by around 2.5 percent from a five-month low on Dec. 12. The next resistance can be found at the 20-day moving average of $1,266.18.

Silver

Silver was up 0.3 percent at $16.17 an ounce, in line with gold’s movement. Gains were pared during the session. Technical front, the white metal climbed along with the 5-day moving average. With upward momentum remaining on track, investors can buy on dips. The next resistance can be found at $16.22 an ounce.

 
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