Gold limited below $1,269

FXStreet (Córdoba) - Gold is hovering around $1,253 an ounce, unchanged from Friday’s closing price. After rising from $1,245 to $1,257 last Thursday the value of the ounce stabilized and since then it has been moving around $1,255.

After the release of the NFP, XAU/USD rose initially to $1,259 and then bounced to the downside finding support at $1,246.

Gold technical levels

To the upside, the area around $1,260 continues to be an important resistance area. Above here the next resistance could be located at $1,267 (may 28 high). On the opposite direction support might lie at $1,250 and below here at $1,245 and $1,240.