18 Feb 2015
Gold flirting with $1,200.00
FXStreet (Edinburgh) - The precious metal is now looking to regain the key $1,200.00 handle after bottoming out around $1,197.00, levels last seen in early January.
Gold softer ahead of FOMC
A bid tone around the US dollar plus the inactivity in the Chinese markets due to the celebrations of the New Year keep weighing on the yellow metal, which could see its demand drop further in case of an upbeat tone in today’s FOMC minutes.
Gold key levels
At the moment the metal is losing 0.73% at $1,199.60. The initial support lies at $1,197.30 (low Feb.18) and then $1,167.30 (low Jan.2). On the other hand, a break above $1,210.70 (high Feb.18) would aim for $1,236.40 (high Feb.16).
Gold softer ahead of FOMC
A bid tone around the US dollar plus the inactivity in the Chinese markets due to the celebrations of the New Year keep weighing on the yellow metal, which could see its demand drop further in case of an upbeat tone in today’s FOMC minutes.
Gold key levels
At the moment the metal is losing 0.73% at $1,199.60. The initial support lies at $1,197.30 (low Feb.18) and then $1,167.30 (low Jan.2). On the other hand, a break above $1,210.70 (high Feb.18) would aim for $1,236.40 (high Feb.16).