Gold rises as geopolitical tensions with North Korea grow

FXStreet – The price of gold fell in response to the data the US consumer sentiment to a session low of 1.263, $ 70. Then it came to a quick recovery, because of the geopolitical tensions with North Korea grow again. The XAU/USD traded recently at 1.267,75 dollars, and thus 0.26 percent in the Plus.

The foreign Minister, Rex Tillerson claimed on Friday that the existing sanctions against North Korea, and the diplomatic relations limit, or suspend. At the same time he has warned of a North Korean attack on South Korea and Japan. Britain’s Prime Ministers Theresa May said that her country will continue to work with international partners, so that the pressure on North Korea will be maintained.

As a result of higher safe-haven demand for the precious metal laid against the Greenback, a shovel, and climbed in the vicinity of the psychologically important mark of 1,270 dollars. There is a strong resistance, which has been established recently.

In spite of the resurgence of buying interest around the Greenback, the US Dollar Index could not exceed the 99-point mark, and the price is currently supporting the gold.

Technical Outlook

With a clean break of the psychologically important mark of 1,270 dollars. the XAU/USD at 1.288 Dollar (High 21 April) and 1.295 Dollar (High 17. April) are on the rise. Supports are at 1,260 dollars (Tief 26. To find April), 1.249-Dollar (50-days-line) and 1.239 $ (the 200-day line).

** FXStreet News Editorial, FXStreet**

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