4 Mar 2015
Gold retreats below $1,200/Oz
FXStreet (Edinburgh) - The troy ounce of the precious metal is returning to the area below the key $1,200.00/Oz handle at the end of the NA session.
Gold looks to ECB, Payrolls
The Gold is posting losses for the third consecutive session now, ahead of the ECB meeting due tomorrow and the US Non-farm Payrolls due on Friday (240K exp.).
The solid performance of the US dollar is also collaborating with the offered tone around the metal, which remains unable to break above the $1,200 level on a sustainable basis.
Gold important levels
At the moment the metal is retreating 0.50% at $1,198.50 and a break below $1,194.90 (low Mar.3) would open the door to $1,190.50 (low Feb.24) and then $1,167.30 (low Jan.2). On the other hand, the initial resistance aligns at $1,223.00 (high Mar.2) followed by $1,236.40 (high Feb.16).
Gold looks to ECB, Payrolls
The Gold is posting losses for the third consecutive session now, ahead of the ECB meeting due tomorrow and the US Non-farm Payrolls due on Friday (240K exp.).
The solid performance of the US dollar is also collaborating with the offered tone around the metal, which remains unable to break above the $1,200 level on a sustainable basis.
Gold important levels
At the moment the metal is retreating 0.50% at $1,198.50 and a break below $1,194.90 (low Mar.3) would open the door to $1,190.50 (low Feb.24) and then $1,167.30 (low Jan.2). On the other hand, the initial resistance aligns at $1,223.00 (high Mar.2) followed by $1,236.40 (high Feb.16).