Gold Settles Higher and Exceeds $1,900 Resistance Level

Gold prices rose on Wednesday, reaching a new level that is the highest in about five months, as markets continue to weigh reflation fears.

The yellow metal’s gains came despite a rebound by the U.S. Dollar (USD), which probably limited today’s rise.

Gold futures for June delivery rose by $3.20, or 0.2%, to finish at $1,901.20 per ounce, finally exceeding the $1,900 resistance level.

Gold’s most active contracts continue to register another level that is the highest since early January.