US gold futures turned higher again early on Wednesday when the euro also reversed course to reach a fresh two-month high against the dollar as investors concerns over US economic growth heated up after US retail sales fell for the second month in a row, traders said. August COMEX gold futures advanced $3.00 to $1,216.50 an ounce at 11:15 am EDT (1515 GMT) on the COMEX metals division of the New York Mercantile Exchange.
Range extended from $1,206.10 to $1,218.20 an ounce. On Tuesday, August gold advanced to its highest level since July 1 at $1,218.80. Gold remained in the range developing since July 1.
A definitive break above resistance could send gold up to its all-time high at $1,266.50 on August futures. Gold's current range support stands at $1,185 an ounce, the 6-1/2-week low hit on July 7, said chartists. A violation of support could lead to $1,134, said chartists. COMEX estimated 9:00 am EDT (1300 GMT) gold volume at 29,792 lots. Spot gold raced up to $1,216.0 an ounce by 11:16 am from the previous session's late quote at $1,210.65 an ounce.
COMEX September silver rallied 19.30 cents to $18.45 an ounce. Range spanned $18.1150 to $18.49 an ounce. COMEX estimated 9:00 am EDT silver volume at 10,320 lots. Spot silver eased to $18.17 an ounce by 10:24 am EDT (1424 GMT) from $18.20 late in the previous session. NYMEX October platinum fell $8.20 to $1,527.20 an ounce. Spot platinum was lower at $1,523.0 an ounce, slightly lower than the previous late bid at $1,524.50 an ounce. September palladium lost $3.0 to $466.15 an ounce.
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