30 Apr 2015
Gold drops near $1,180
FXStreet (Edinburgh) - The troy ounce of the yellow metal has surrendered the $1,200 handle, dropping to the $1,180/85 band.
Gold hurt by US data
The better than expected results from the US labour market today added further downside pressure to Gold prices, which left the vicinity of the psychological $1,200 handle to test lows around $1,175.
The good performance of US Treasuries collaborated with the intraday decline in the metal, despite the softer tone in the US dollar.
Gold levels to consider
The metal is now losing 1.83% at $1,182.68 with the next support at $1,176 (low Apr.30) ahead of $1,168.50 (low Mar.20) and finally $1,159.40 (low Mar.19). On the other hand, a breakout of $1,236.79 (high Feb.16) would open the door to $1,245.91 (high Feb.10) and then $1,285.80 (high Feb.3).
Gold hurt by US data
The better than expected results from the US labour market today added further downside pressure to Gold prices, which left the vicinity of the psychological $1,200 handle to test lows around $1,175.
The good performance of US Treasuries collaborated with the intraday decline in the metal, despite the softer tone in the US dollar.
Gold levels to consider
The metal is now losing 1.83% at $1,182.68 with the next support at $1,176 (low Apr.30) ahead of $1,168.50 (low Mar.20) and finally $1,159.40 (low Mar.19). On the other hand, a breakout of $1,236.79 (high Feb.16) would open the door to $1,245.91 (high Feb.10) and then $1,285.80 (high Feb.3).