FXStreet – The precious metal was able to on Wednesday some of the losses of the past few days to recover and is stabilizing above the mark of 1,220 dollars.
Thanks to the weak dollar, the gold price decreased on Wednesday on the road to recovery – and has narrowed as a result, the losses of the past few days.
The US Dollar Index, which is the US Dollar with other major currencies and compares, after the positive Start in the new trading week in reverse. Nevertheless, it could keep the Barometer is above the critical 99 points.
Growing speculation on a rate increase by the Federal Reserve at the June meeting, had charged to Gold in the past few days. It slipped yesterday even on a new 2-month Low at around 1.215 dollars.
Gold – Major Brands
Gold price was last at an altitude of 1,221, $ 74, and thus 0.45 percent in the Plus. The next Resistances lie at 1.225,57 (100-day line), 1.228,70 (High 09. May) and 1.241,70 (High 04. May). Supports on the other hand, 1.214,70 (Deep 09. May), 1.196,20 (Tief 10. March) and 1.185,60 (Depth 20. To find in January).
** FXStreet News Editorial, FXStreet**