Gold bounces hard at 2.5-month low

FXStreet (San Francisco) - The gold declined to its lowest level since February 10 at 1,268 in the European morning, however, the yellow metal found buying interest at this level with the XAU/USD bounced hard to 4-day highs at 1,298.50.

The gold's bounce was fueled by risk aversion and safe haven demand amid violence in Ukraine.

Currently, the gold is pricing at 1,290 area 0.48% positive on the day. On the upside, the gols would face resistances at 1,300, 1,306 and 1,330. On the downside, supports are at 1,275 again, 1,278 and 1,250.