Gold futures edged higher on Wednesday, amid ongoing concerns about crises in Ukraine and Gaza.
On the Comex division of the New York Mercantile Exchange, gold for August delivery eased up 0.08%, or $1.00, to trade at $1,307.70 a troy ounce during European morning hours. Prices held in a tight range between $1,305.60 and 1,309.30.
Futures were likely to find support at $1,298.10, the low from July 17 and resistance at $1,325.50, the high from July 18.
Gold remained supported as tensions between Russia and the West remained high in the wake of the downing of a Malaysian airliner in eastern Ukraine late last week, while Israel’s ground offensive in Gaza was also in focus.
Also on the Comex, silver for September delivery tacked on 0.04%, or 0.9 cents, to trade at $21.01 a troy ounce.
Elsewhere in metals trading, copper for September delivery inched up 0.03%, or 0.1 cents, to trade at $3.209 a pound.