FXStreet – Gold broke out of its consolidation range and it was a new 4-week high in the vicinity of 1270 $ is formed.
The Dallas Fed President, Robert Kaplan said that he expects this year, with two further interest rate hikes, the US Dollar profited slightly, and the Dollar-traded commodities such as Gold leads to strain.
• Fed Kaplan expected in the year 2017, with two further increases in interest rates – CNBC
Add to this the concerns to the discussions around the Greek bailout package, after it came to a correct position by Greece’s Finance Minister, Euclid Tsakalotos, of which the safe harbors benefit.
Next, expect us from the US the Core PCE price index, personal income/spending, and the CB consumer confidence, which impact on the expectations of a Fed interest rate increase.
Supports lie at 1260, 1254-53 and 1250-45. On the other hand, Resistances can be found at 1270, 1275-76 and 1284.
** FXStreet News Editorial, FXStreet**