6 Apr 2015
Gold off highs, near $1,220
FXStreet (Edinburgh) - The troy ounce of the yellow metal is back above the $1,200 handle at the beginning of the week, currently hovering over the $1,215/20 band.
Gold up on Payrolls, USD
The precious metal advanced as high as $1,225 following the poor report from the US labour market released last Friday, where the US economy added 126K jobs during March vs. 244K expected and 264K from February.
The initial softer tone around the US dollar today also allowed Gold-bulls to push prices higher to the area of $1,225, or 7-week highs.
Gold key levels
The metal is now advancing 089% at $1,217.80 with the next resistance at $1,236.79 (high Feb.16) ahead of $1,245.91 (high Feb.10) and finally $1,285.80 (high Feb.3). On the other hand, a breach of $1,194.80 (low Apr.2) would open the door to $1,180.50 (low Apr.1) and then $1,178.20 (low Mar.31).
Gold up on Payrolls, USD
The precious metal advanced as high as $1,225 following the poor report from the US labour market released last Friday, where the US economy added 126K jobs during March vs. 244K expected and 264K from February.
The initial softer tone around the US dollar today also allowed Gold-bulls to push prices higher to the area of $1,225, or 7-week highs.
Gold key levels
The metal is now advancing 089% at $1,217.80 with the next resistance at $1,236.79 (high Feb.16) ahead of $1,245.91 (high Feb.10) and finally $1,285.80 (high Feb.3). On the other hand, a breach of $1,194.80 (low Apr.2) would open the door to $1,180.50 (low Apr.1) and then $1,178.20 (low Mar.31).