FXStreet – Gold extended its days of profit from the area of the 3-month high of 1264 $ and now is a daily loss to complain about.
The downward revision is associated with an improvement in risk sentiment, as the shares in growth markets. After the initial reaction to the tragic terrorist attack in Manchester, and turned the risk of mood and this is a burden to the safe haven of the yellow metal.
Add to that the moderate recovery of the Greenback, while the US Dollar Index its initial losses from 6-month low of degrades.
Under 1258 (day low), next supports at 1255, and the 200-day SMA of 1245. Resistances lie at 1264/65, 1269/70 and 1276/78,
** FXStreet News Editorial, FXStreet**