Gold prices were flat the whole day staying in a tight range around 1285. The resistance resides at 1290, the support comes in at 1280 dollars per once.
We will preserve our positive outlook until the precious metal is above 1260. However, the spot may move down on profit taking. The yellow metal may ease to 1270 dollars per once.
The recovery stalled at 56.00 in the mid-European session. The price turned around at the noon and edged lower erasing all its fresh gains. The resistance is at 56.50, the support comes in at 55.50 dollars per barrel.
If the downward pressure remains intact the benchmark will decline to 54.50 dollars per barrel in the coming sessions.
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