FxWirePro: Gold prices set to advance further, bullish extension till 1300 is likely
The yellow metal inched higher on Tuesday, as weaker dollar and falling stock markets increased demand for safe heaven assets like gold and Japanese yen. The commodity is set to advance further towards higher side in the…
The yellow metal inched higher on Tuesday, as weaker dollar and falling stock markets increased demand for safe heaven assets like gold and Japanese yen.
The commodity is set to advance further towards higher side in the coming sessions as the demand for yellow metal is set to continue.
Further downside is expected to be limited, as the support level located at1266 is likely to hold the bears from falling further below and bring a rebound back towards higher levels.
To the upside, strong resistance can be seen 1286 a break above this level would expose the commodity towards 1295 levels.
To the downside immediate support can be seen at 1275, a break below at this level will open the door towards 1266 levels.
