Gold 5-day Rally Cools; Hits Major Resistance At This Level - Expert

Despite gold's recent momentum, one commodities broker is looking for the metal to run into major resistance.
Author:
Publish date:

KITCO NEWS - Despite gold's recent momentum, one commodities broker is looking for the metal to run into major resistance. Gold's 5-day rally cooled Thursday as investors continued to digest turmoil in the White House. According to Carley Garner, co-founder of DeCarley Trading, gold's upswing was a bit of an 'overreaction.' 'A fresh headline is needed to push the metal passed major resistance. I see strong resistance at the $1,280 area,' she told Kitco News. June Comex gold futures have come off recent two-week highs, last trading down 0.44% at 1,253.20 an ounce.