FxWirePro:Gold rises to three-week highs, maintains bullish bias
The yellow metal rose to hit three-week high on Thursday, as demand for gold increased as major stock markets slumped and diminishing expectations of an early interest rate hike by the U.S. Federal Reserve increased dema…
The yellow metal rose to hit three-week high on Thursday, as demand for gold increased as major stock markets slumped and diminishing expectations of an early interest rate hike by the U.S. Federal Reserve increased demand for yellow metal.
The commodity is trading at 1270 levels, it is set to advance future towards 1285 and later 1300 levels.
To the upside, the strong resistance can be seen 1285, a break above this level would expose the commodity towards 1300 levels.
To the downside strong support can be seen at 1263, a break below at this level will open the door towards 1253 levels.
