Gold plunged to a weekly bottom near $ 1250
Gold plunged to a weekly bottom near $ 1250

The positive opening of the European stock exchanges showed that investor appetite for riskier assets increased, weighed on traditional safe havens and became the only guide to the downward pace of the precious metal in the last hour.
Meanwhile, the tightening Fed decision in the past week damaged the demand for low-yielding commodities while supporting the modest rise in US bond rates and the US dollar, and contributed to the slide to the lowest level since May 24th.
While waiting for talks by FOMC members this week, which will start with the talk of Chicago Fed President Charles Evans, investors could provide new impetus for lack of any economic data that would create a major market movement.
Gold currently trades at $ 1,251.35 with a loss of 0.40%.
Important technical levels for gold
1250 $, 1247 $ (100-day SMA) and 1240-39 $ (200-day SMA) levels can create resistance for the levels of $ 1253, $ 1255 and $ 1262 (horizontal level).