Gold firm albeit still below $1,350

The troy once of the yellow metal keeps the firm note on Tuesday, advancing to 2-day highs in the boundaries of $1,350.

Gold bid ahead of Yellen

Prices for the precious metal are posting gains for the second session in a row today backed by a resurgence of the selling bias around the greenback.

In addition, bullion finds extra support on the rising cautiousness ahead of the speech by Chair Yellen at the Jackson Hole Symposium on Friday, while traders will remain vigilant on any hint regarding the potential timing of the next Fed’s rate hike.

Gold key levels

As of writing Gold is up 0.05% at $1,344.10 and a break above$1,366.00 (high Aug.2) would aim for $1,374.90 (2016 high Jul.6) and then $1,391.40 (2014 high Mar.17). On the other hand, the immediate support lines up at $1,327.06 (55-day sma) followed by $1,312.80 (low Jul.21) and then $1,301.34 (23.6% Fibo of the 2016 up move).