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Gold prices move higher amid U.S. political turmoil
Investing.com - Gold prices moved higher on Friday, as recent political events in the U.S. continued to weigh on the greenback and boost demand for safe-haven assets, although investors were also eyeing the release of U.S. data due later in the day.
On the Comex division of the New York Mercantile Exchange, gold futures for June delivery were up 0.26% at $1,227.36.
The June contract ended Thursday’s session 0.43% higher at $1,224.20 an ounce.
Futures were likely to find support at $1,214.30, the low of May 9 and resistance at $1,236.90, the high of May 8.
Markets were still jittery since U.S. President Donald Trump’s unexpected decision to fire FBI Director James Comey.
Comey had been leading his agency’s investigation into alleged Russian meddling in the 2016 U.S. presidential campaign and possible collusion with Trump’s campaign.
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