FXStreet Gold went to the week prelude first of all, on correction of course, but then changed the direction and put a shovel. As a result, the precious metal jumped in the proximity of the mark of 1,260 USD.
The Greenback is also on Monday not a robust support so that the US Dollar Index even had to give the 97-point mark price, and thus the lowest level for six months marked. This has in turn supported the gold price. At the same time the risk appetite of market participants after the weekend has declined, which weighed on the stock markets. To blame the resurgence of Brexit-is likely to be, which gave the safe haven Gold bid.
Little attention was, however, the recovery in the yield on two year US government bonds, and the interest rate kicking in expectations for a possible interest rate move by the Federal Reserve in June. However, the rising US yields, which usually debit the interest-free metal, could not stop the upward movement of the pair XAU/USD, but you limit.
In the further course of a day, some representatives of the American Central Bank, the Fed, will speak on monetary policy.
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USD in the last Phase of the bull market-Trends
Di next Resistances lie at 1,261 USD 1.268 USD (horizontal resistance), and 1.275/76 USD. Supports are found at 1.255 USD and 1,250 USD.
** FXStreet News Editorial, FXStreet**
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