Gold miners' index on Friday reached its highest level since Nov. 11 - 27 Feb 2017

Commodity Intraday Tips

Australia's gold miners' index on Friday reached its highest level since Nov. 11.

But heavy rainfall in far Western Australia - the country's main gold mining region - has been affecting mine work and could curb first-quarter output, getting 2017 off to a slower start, according to Close.

Dollar Weakness and Political Uncertainty Continues to Fuel a Major Gold Rally.Successfully breaking above resistance at 1242 yesterday, traders harnessed that momentum for a second day,moving gold prices to a level not seen since November 11 of last year. The last time gold traded at 1240 wasimmediately following the presidential election. The strong correction began on November 8, and would result in a $200 decline in gold prices.

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