Gold consolidation of the strong Friday gains to 4-week high

FXStreet — Gold consolidates its strong gains from Friday, which would have a 4-week high. The price oscillates in a narrow Range just above 1265, while the liquidity is reduced.

The political tensions around the Korean Peninsula have increased with the recent missile tests of North Korea, of which the demand for the yellow metal benefits.

The weaker US Dollar provides an additional support for the Dollar-traded commodities such as Gold.

The British and American markets remain closed due to the Spring Bank Holiday and Memorial Day, so that the liquidity is reduced.

Important Levels

Resistances can be found at 1270, 1275 and in 1279-80. On the other hand, supports are located at 1264-63, 1260 and 1255-54.

** FXStreet News Editorial, FXStreet**

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