Gold probing highs near $1,270/oz

The troy ounce of the precious metal is inching higher on Tuesday, currently flirting with the $1,270 handle, or daily highs.

Gold up, geopolitical tensions rise

The demand for the yellow metal picked up extra pace on Tuesday in response to rising tensions in both the Middle East and Asia.

In fact, the effervescence between the US and Russia stays on the rise following the US attack to a Syrian airbase over the weekend, while the belligerent tone between US and North Korea continues to escalate.

Furthermore, Bullion got supported following the steady message from Chief J.Yellen at her speech on Monday, reiterating once again that the Fed will pursue a gradual tightening.

Gold key levels

As of writing Gold is gaining 1.20% at $1,269.55 facing the next up barrier at $1,273.30 (2017 high Apr.7) and then 1,307.00 (high Nov.2 2016). On the downside, a break below $1,262.00 (low Apr.10) would open the door to $1,258.46 (55-day sma) and then $1,257.31 (100-day sma).