FXS: Gold futures rises above $1140/ounce as volume picks up
FXstreet.com (Barcelona) - The gold contract for June, the most active future, has rebounded early Monday after being hammered Friday amid the Goldman Sachs fiasco. Today the bullion trades $7 higher at $1142.80 an ounce, close to the intraday high.
The gold future pushed a 4-month high last week before sliding down at the end of the week. A strong US dollar has not helped the yellow metal over previous sessions as investors flocked to safer alternatives.
Oil N' Gold lists the next resistance levels at $1147.07 and $1155.63. On the downside, the next supports are $1127.23 and $1118.67.
