FXStreet – The precious metal trades at the week’s kick-off in the Defensive. So it returned to the support at 1.265 USD, after it has been tested in early trading, the brand of 1,270 USD.
Gold is limited in the case of 1,270 USD
The gold price will be traded today for the first time in two days with a loss – the overall bullish Trend took but no damage.
The yellow metal has a watchful eye on the prospects for further tightening by the Federal Reserve at the June meeting, The probability of an interest rate step, estimate the age of the investors according to CME Groups FedWatch tool to over 83 percent.
The price of gold on it last put a shovel, because investors are skeptical about whether the us Central Bank will actually rotate twice this year, at the interest rate screw, in particular after the publication of the most recent session log.
Later this week, both the ISM data for the Manufacturing sector as well as the official labour market data will be in focus.
Gold price was last updated on amounted to 1,265. 69 USD 0.19 per cent in the Minus. The 50% Fibo at 1.255,85 USD offers first support. Including the next stop zones are located at 1.253,59 USD (20-day line) and 1.241,17 USD (the 200-day line). Technical Resistances are at 1.269,30 USD (High 26. May), 1.272,40 USD (High-01. To find may) and 1.277,79 USD (76,4% Fibo).
** FXStreet News Editorial, FXStreet**