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FxWirePro: Gold resumes upside as Brexit worries boost safe haven assets

Gold inched higher on Friday to gain one percent as weaker dollar and uncertainty ahead of Britain's vote on European Union membership increased demand for the bright metal. The yellow metal is likely to advance further …

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  • Gold inched higher on Friday to gain one percent as weaker dollar and uncertainty ahead of Britain's vote on European Union membership increased demand for the bright metal.
     
  • The yellow metal is likely to advance further as the demand for the yellow metal is set to increase further in the coming days.
     
  • To the upside, the strong resistance can be seen 1315, a break above this level would expose the commodity towards 1344 levels.
     
  • To the downside immediate support can be seen at 1285, a break below at this level will open the door towards 1272levels.

    Support levels: S1-1285, S2-1272, S3-1263

    Resistance levels: R1-1303, R2-1315, R3-1344

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