Gold leaps to $ 1265 on flight to safety after US attacks Syria

Gold prices on Comex rallied over the last hour, after fresh reports hit the wires that the US launched dozens of missiles on Syria in response to the Syrian gas attacks, stocking risk-off across the board and thereby, boosting the ultimate safe-haven gold.

Currently, gold jumps +0.74% to $ 1263.50, having posted the highest level since Feb 26 at $ 1265.65. Investors are running for cover in gold, after the headlines hit the wires that the US ships fired nearly 60 cruise missiles within 1 minute against various targets near the Syrian airfield.

Focus now remains on the US President Trump’s statement on the military action, which will once again provide fresh impetus to the spot. Also, on the radar lies the US payrolls data due for release later in the NA session, which will throw fresh light on the US interest rates outlook for this year.

Comex Gold Technical Levels                                  

The metal has an immediate resistance at 1280 (key resistance) and 1300 (zero figure). Meanwhile, the support stands at 1252 (daily low) below which doors could open for 1240.60 (200-DMA).