The yellow metal rebounds from 6-month lows as DXY extends losses. Gold heads for first daily gain after four losses in-a-row. Gold erased daily losses and climbed toward the $1,270/oz area. The yellow metal bottomed at $1,261.30, the lowest intraday level since December 20. Recently the metal reached $1,268.90 slightlky below the Asain session highs. It was hovering near $1,270 with the bullish tone intact. The recovery from the bottom took place amid a decline of the greenback. The US Dollar Index peaked earlier today at 95.55 but failed to hold and pulled back below 95.00. On US hours, fell to 94.70 and it was trading with an intraday bearish tone. The recent bounce from the lows could point to some consolidation ahead. Gold lost $40 in a week before today’s rebound so the recovery could also be attributed to some profit taking. XAU/USD Levels to watch The decline from $1,300 found support today at the strong $1,260 area. A break lower could open the doors to more losses. To the upside, resistance levels might be seen at $1,270, $1,281 and $1,288 (Jun 1 & 4 low). FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/GBP: BoE signals mitigate upside risks – Danske Bank FX Street 3 years The yellow metal rebounds from 6-month lows as DXY extends losses. Gold heads for first daily gain after four losses in-a-row. Gold erased daily losses and climbed toward the $1,270/oz area. The yellow metal bottomed at $1,261.30, the lowest intraday level since December 20. Recently the metal reached $1,268.90 slightlky below the Asain session highs. It was hovering near $1,270 with the bullish tone intact. The recovery from the bottom took place amid a decline of the greenback. The US Dollar Index peaked earlier today at 95.55 but failed to hold and pulled back below 95.00. On US hours, fell… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
