5 Mar 2015
Gold flirting with $1,200
FXStreet (Edinburgh) - The troy ounce of the precious metal is looking to regain the key $1,200 handle towards the end of the NA session on Thursday.
Gold retreats on USD strength
A continuation of the upside sentiment in the US dollar weighed on the yellow metal today, losing ground for the fourth consecutive session albeit still in the $1,200 neighbourhood.
Gold will remain under pressure in the very short term as US Payrolls for the month of February are due tomorrow, with consensus expecting the economy to have created 240K jobs.
Gold important levels
At the moment the metal is retreating 0.12% at $1,199.50 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 retreats on USD strength
A continuation of the upside sentiment in the US dollar weighed on the yellow metal today, losing ground for the fourth consecutive session albeit still in the $1,200 neighbourhood.
Gold will remain under pressure in the very short term as US Payrolls for the month of February are due tomorrow, with consensus expecting the economy to have created 240K jobs.
Gold important levels
At the moment the metal is retreating 0.12% at $1,199.50 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).