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Gold Settles Higher and Exceeds $1,900 Resistance Level

M. Ali 27 May, 2021 1:00 am Commodities, Market Update

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.

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