- Gold slipped to its lowest levels in 1-weeks on Thursday as dollar demand increased across the board ahead of Friday’s nonfarm payroll data, putting pressure on the yellow metal which bottomed around 1272 levels.
- Currently the yellow metal is trading around 1271 levels, it is set to decline further downwards as the resistance at 1287 is set to hold the bulls from advancing further.
- To the upside, the immediate resistance can be seen 1273, a break above this level would expose the commodity towards 1287 levels.
- To the downside immediate support can be seen at 1263, a break below at this level will open the door towards 1255 levels.
Support levels: S1-1263, S2-1255, S3-1237
Resistance levels: R1-1273, R2-1287, R3-1301
The material has been provided by InstaForex Company – www.instaforex.com