Gold - Déjà vu all over again

It’s Brexit Déjà vu for Gold all over again. The metal is up 4% near $1330/Oz levels on account of the Trump-led risk aversion.

The action in the yellow metal clearly mimics the one seen on June 24 Brexit referendum.

The metal clocked a low of $1268 before jumping to a high of $1337/Oz levels.

The metal remains solidly bid given the Trump victory looks like a done deal.

Gold Technical Levels

Key resistance levels - $1352 (Sep high), $1375 (July high), $1400

Key support levels - $1300, $1268 (daily low), $1246 (weekly 50-MA)

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.