Gold hits 4-week high. Will the prices increase further soon?

Gold touched its highest in four weeks on Thursday as the US dollar stepped further away from a 14-year peak hit earlier this week, and on a technical rebound.
Spot gold was up 1.3 per cent at $1,178.36 an ounce by 0641 GMT. It touched a high of $1,178.62, its best since Dec. 7. US gold futures climbed 1.2 per cent to $1,178.50 per ounce.
The dollar index, which measures the greenback against a basket of currencies, was down 0.7 per cent at 102.030.

"It's more of a dollar sell-off than a gold move," said Jeffrey Halley, senior market analyst at brokerage OANDA in Singapore.
"The dollar is weak across the board and gold itself has technically broken out of its down channel in December."
Spot gold has risen 5 per cent from the more-than 10-month lows touched in December.