Gold hit a three-week high above $960 an ounce on Friday as buying linked to the weaker dollar pushed the metal through technical resistance, before paring gains after U.S. consumer sentiment data pressured the euro.

Spot gold hit a high of $961.00 an ounce, its firmest level since Aug. 7, and was bid at $955.10 an ounce at 1434 GMT, against $946.75 an ounce late in New York on Thursday.

Prices rose after heavy selling of the dollar late on Thursday, particularly against the Swiss franc, knocking the U.S. currency to multi-week lows versus the euro.

“In the near term is it still predominantly the currency that is in the driving seat,” said Saxo Bank senior manager Ole Hansen.

“That has managed to tip (gold) through a technical level where new buying and short covering has been triggered this morning, and that has given us a bit of momentum on the upside.”

Gold typically moves in

Gold eased on Wednesday, giving up earlier gains, as the dollar recovered losses against the euro after U.S. durable goods data failed to impress, tempering appetite for the metal as an alternative asset.

But prices remained rangebound as traders awaited clearer direction from the currency markets.

Spot gold was bid at $941.80 an ounce at 1523 GMT, against $943.55 an ounce late in New York on Tuesday. Earlier it rose as high as $949.85.

U.S. gold futures for December delivery on the COMEX division of the New York Mercantile Exchange were down $1.8 at $944.20 an ounce.

“We are probably going to stay fairly rangebound,” said Standard Bank analyst Walter de Wet. “We would have to see some decent dollar weakness for gold to move above $956-960.”

The dollar rose versus the euro and a currency basket, reversing early losses, after durable goods numbers from the United States.

The data showed June orders for durable goods, excluding transportation,

Gold held just under $950 an ounce today, Wednesday, as the dollar steadied against a basket of currencies with weakness in the euro underpinning prices, but gains were capped by lack of physical demand for the metal.

A slide in oil prices is also undermining support for gold, analysts said.

Spot gold was at $947.85 an ounce at 1402 GMT, against $948.15 an ounce late in New York on Tuesday. U.S. gold futures for August delivery on the COMEX division of the New York Mercantile Exchange were up $1.30 at $948.20 an ounce.

“We are stuck in a range,” said Afshin Nabavi, head of trading at MKS Finance in Geneva. “We have to break below $944 or above $955 in order to see some interest in the market.”

“With stocks opening lower and the euro not performing that (well), gold could test the lower end of its range,” he added.

The dollar <.DXY> was steady versus a

Gold was flat to slightly higher through Hong Kong and the first half of the London session on Monday, but caught ignition once New York opened, shooting up nearly $20 by just past noon, before easing into the Globex and finishing at $884.80/oz., up $16.10. Overnight, gold is slightly higher.

Platinum was hammered through the far East and European trading, leveled off into the noon hour, but then plunged again before inching back up on the Globex to end at $1161/oz., down $44. Overnight, platinum has been flat.

Silver’s sojourn below the $12 line lasted only a day, as it broke past the mark early in London, then traded within a tight 20-cent range for the rest of the day, closing in the middle at $12.10/oz., up 21 cents. Overnight, silver is little changed. (Click here for charts)

Although platinum took a serious hit yesterday, gold and silver moved contrary