FXStreet – The metal is acted on Friday in a narrow Range and is currently trading around 1250 with a slight loss.
Gold weekly resistance is at 1265 $
The prices for the yellow metal to rise 2. Week in a row, after starting from the may lows in the area of 1214 came to a rally, which yesterday was High at 1265 $.
The strong sales of the Greenback in response to the political risks associated with the Trump-FBI-Russia controversy have supported the demand for Gold. Add to this the renewed Concerns about tensions between the US and North Korea.
The speculation on a Fed rate increase in June, according to could also, of which the price of gold benefited.
Gold technical levels
Currently Gold daily loss -0,01 % in 1252,76 and the next supports is at 1246,04 (38,2 % Fibo of the April to Mairückgangs), 1243,68 (200-day SMA) and 1233,91 (23,6 % Fibo of the April-may decline). Resistances can be found at 1275,00 (High 18. May), 1272,40 (High-1. May) and 1277,79 (76,4 % Fibo of the April-may decline).
** FXStreet News Editorial, FXStreet**