Gold in red around $1,120

By FXStreet FXStreet (Edinburgh) – Prices for the precious metal are posting small losses on Monday, currently navigating around the $1,120 area per ounce.

Gold cautious ahead of Fed

Gold prices are seeing its decline extended today following last week’s pullback, as market participants keep factoring in the likeliness of the Fed hiking rates this month.

Today’s inactivity in US markets due to the Labor Day holiday is also collaborating with the subdued sentiment surrounding investors.

Gold key levels

As of writing Gold is down 0.27% at $1,118.40 with the next support at $1,116.10 (low Sep.4) followed by $1,108.50 (low Aug.18). On the upside, a surpass of $1,147.30 (high Sep.1) would expose $1,156.30 (high Aug.25).
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Source:: FX Street