Gold rose 0.5 percent in the previous session, its biggest one-day gain in a month. "Gold has found technical support from a rising trend line," said Fawad Razaqzada, technical analyst for Forex.com. Spot gold was up 0.3 percent at $1,228.01 an ounce by 2:52 p.m. EDT (1852 GMT), hovering around the 100-day moving average. U.S President Donald Trump on Thursday ran into resistance for calling ousted Federal Bureau of Investigation chief Comey a "showboat". But capping gains in gold are expectations that the U.S. Federal Reserve will increase interest rates in June.
as declared in was up 0.3 percent at $1,228.01 an ounce by 2:52 p.m. EDT (1852 GMT), hovering around the 100-day moving average. [nL1N1ID0KF] But capping gains in gold are expectations that the U.S. Federal Reserve will increase interest rates in June. U.S President Donald Trump on Thursday ran into resistance for calling ousted Federal Bureau of Investigation chief Comey a "showboat".
Spot gold rose 0.5 percent in the previous session, its best one-day gain in a month. Spot gold rose 0.2 percent to $1,227.33 per ounce at 0707 GMT. Spot gold may drop to $1,209 per ounce, as its downtrend from the April 17 high of $1,295.42 remains steady, Reuters technical analyst Wang Tao said. "Whatever Trump says is important and is affecting the markets and may influence gold prices for the short-term," OCBC analyst Barnabas Gan said. Asian stocks followed an overnight drop on Wall Street, with MSCI's broadest index of Asia-Pacific facebook/" target="_blank">shares outside Japan falling 0.2 percent.
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PRECIOUS-Gold firm as U.S. political concerns lend support
Gold rose 0.5 percent in the previous session, its biggest one-day gain in a month. [MKTS/GLOB][USD/] [nL1N1IC1R1] "Gold has found technical support from a rising trend line," said Fawad Razaqzada, technical analyst for Forex.com. Spot goldSpot gold rose 0.5 percent in the previous session, its best one-day gain in a month. Spot gold rose 0.2 percent to $1,227.33 per ounce at 0707 GMT. Spot gold may drop to $1,209 per ounce, as its downtrend from the April 17 high of $1,295.42 remains steady, Reuters technical analyst Wang Tao said. "Whatever Trump says is important and is affecting the markets and may influence gold prices for the short-term," OCBC analyst Barnabas Gan said. Asian stocks followed an overnight drop on Wall Street, with MSCI's broadest index of Asia-Pacific facebook/" target="_blank">shares outside Japan falling 0.2 percent.
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