20 Feb 2015
Gold turns red on Greece deal
FXStreet (Edinburgh) - The precious metal is now posting marginal losses during the European evening/night, following an initial agreement between Greece and the Eurogroup.
Gold clings to $1,200.00
Despite the current correction lower, the yellow metal manages to keep the trade above the critical $1,200.00 mark against a backdrop of increasing optimism in the risk-on universe. The better tone from the riskier assets came after EU finance ministers and Greek officials apparently clinched a deal involving a loan extension for the Hellenic country, although further details will soon follow.
Gold key levels
At the moment the metal is losing 0.11% at $1,206.30. A drop below $1,197.30 (low Feb.18) would expose $1,167.30 (low Jan.2) and then $1,141.70 (low Dec.2). On the upside, the next hurdle lines up at $1,222.90 (high Feb.19) would aim for $1,236.40 (high Feb.16) and finally $1,245.90 (high Feb.10).
Gold clings to $1,200.00
Despite the current correction lower, the yellow metal manages to keep the trade above the critical $1,200.00 mark against a backdrop of increasing optimism in the risk-on universe. The better tone from the riskier assets came after EU finance ministers and Greek officials apparently clinched a deal involving a loan extension for the Hellenic country, although further details will soon follow.
Gold key levels
At the moment the metal is losing 0.11% at $1,206.30. A drop below $1,197.30 (low Feb.18) would expose $1,167.30 (low Jan.2) and then $1,141.70 (low Dec.2). On the upside, the next hurdle lines up at $1,222.90 (high Feb.19) would aim for $1,236.40 (high Feb.16) and finally $1,245.90 (high Feb.10).