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    Forex News from New Forex: Gold takes a break after a rise

    Gold futures with the delivery in August shed 0.82% today to 1.287.80 a troy ounce. The immediate level of support is seen at $1,273.0 (a low since June 13), the level of resistance stands at $1,316.40 (a high since June 16). We expect a further rise of the precious metal as the question of Brexit and the decision of the Fed to keep the interest rate unchanged increase the demand for the yellow metal. Gold prices surged 0.7% since the start of the week and 21% since the start of the year.

    Today’s decline is due to the murder of the Parliament member Jo Cox in the UK who voted for keeping a membership in the European Union. The first murder of the PM since times of Irish terrorism can push the UK citizens to vote for staying in the EU. Silver futures with the delivery in July slid 1.18% today to $17.40.

    Oil pares its losses for the first time since the last seven days. WTI added 1,17% on Friday to $46.73 a barrel, Brent picked up 1.59% to $47.94.

    NewForex Analyst

    David Fineberg

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