Gold is testing the 1230 $ with stock USD purchases ends

FXStreet — The price of gold on the Comex can fall to the 1224,50 Deeply repent, and so will be the losses with the stick ends of USD purchases to 1230 $ reduced.

Currently, Gold trades largely unchanged at 1226,46. The yellow metal for delivery in the last hour in new offerings, as demand for the Greenback increased with the European opening. The US Dollar Index, which represents the strength of the USD vs. its 6 most important rivals, increases of 0.06 %, 99,08, after which he has from the 99,20 days withdrawn.

Despite the slight recovery in Gold remains under pressure as US yields in the region of their 1-month-high, while the chances of the Fed increased interest rates to increase in the next month.

Also a disadvantage for the safe haven of Gold, the victory of the new French President, Emmanuel Macron. In the course of the day will be the USD dynamics and the General risk-trends for the rate of development will be crucial, before removing it from the United States, some of the data .

Comex Gold technical levels

Resistances lie at 1230 (psych. Level) and 1244.53 (20-day MA). Supports can be found at 1221 (2-month low) and 1200 (psychological level).

** FXStreet News Editorial, FXStreet**

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