Gold recovery from the initial losses, a new 2-week high

FXStreet — After the initial decline, Gold could rise to the center of the European trade and it is the highest level since the month was achieved at the beginning.

The risk aversion shown by the selling pressure in the European equity markets, while the major indexes to record deep in the loss. At the same time there is a decline in US Treasury bond yields, of which the yellow metal benefited.

Important Levels

About 1268$, the next Resistances lie at 1275$ and 1279-80$. On the other hand, supports are located at 1254 (daily low) and the 200-day SMA of 1247 $.

** FXStreet News Editorial, FXStreet**

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