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Geopolitics support gold prices, next major resistance is $1,535: MKS PAMP Group

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Geopolitical tensions are supporting gold prices at just above the $1,500 an ounce, MKS PAMP Group says. “Geopolitical concerns should continue to underpin prices and we see ETF’s moving back into the metal following recent outflows,” MKS writes. There is a lot of interest at $1,500, which is why it is the first support level, followed by $1,485. The next strong resistance is around the $1,535, which is also a “key target for a resumption higher.” All eyes turn to the FOMC meeting minutes being released Wednesday afternoon. 

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