After four days of declines, CME Gold is up $17.7 today

Tentatively higher from an earlier low of $1,815.4, CME Gold is up to $1,836.3 per ounce today, adding $17.7, or 0.97%, to yesterday's closing price of $1,818.6.

United States's Initial Jobless Claims new data released of 211,000 below its previous figure.

Gold upside coincides with further encouraging market factors as highly important Initial Jobless Claims data from United States beat analyst expectations of 195,000 with a reading of 211,000. Following a previous reading of 1.17 million, Crude Oil Inventories in United States released yesterday at 15:30 UTC fell short of the 395,000 figure expected by analysts with an actual reading of -1.69 million.

Meanwhile, United States JOLTs Job Openings (Jan) released yesterday at 15:00 UTC with a figure of 10.82 million, while the previous figure was 11.23 million.

Gold made an initial breakout above its 10 day Simple Moving Average at $1,836.21, a potential indicator of a newly emerging bullish phase. Crossed the $1,834.8 Fibonacci level, next level is at $1,860.

Overall, looking at the technical analysis landscape, it seems Gold might continue pointing upwards in the short term.

Rallies can also be seen in other Metals, Silver is up 1.4%. Platinum is up 0.87% to $954.1.

Moreover, macro data could boost sentiment further as United States Non Farm Payrolls projected to come out at 205,000 — worse than previous data of 517,000; data will be released tomorrow at 13:30 UTC.

Also worthy of note, United States Unemployment Rate is expected tomorrow at 13:30 UTC.

After hitting an important low of $1,623.3 approximately 5 months ago, CME Gold has bounced back 12.03% since.