13 Jul 2015
Gold rebounds from $1,150
FXStreet (Edinburgh) - The troy ounce of the yellow metal is giving away part of recent gains and returning to levels below the $1,160 handle.
Gold weaker on Greek deal
Prices are retreating for the third consecutive session so far, after being rejected once again from the $1,165 area.
The demand for the safe haven metal has remained subdued on Monday, in response to the recent EU-Greece deal. Adding to the downside, the greenback, gauged by the US Dollar Index, has regained ground and is now toying with session highs.
Gold levels to watch
At the moment Gold is losing 0.17% at $1,155.90 and a break below $1,147.30 (low Jul7) would aim for $1,145.40 (low Mar.18) and finally $1,142.20 (2015 low Mar.17). On the upside, the initial resistance lines up at $1,174.88 (high Jul.6) followed by $1,178.70 (high Jun.26) and then $1,188.20 (high Jun.29).
Gold weaker on Greek deal
Prices are retreating for the third consecutive session so far, after being rejected once again from the $1,165 area.
The demand for the safe haven metal has remained subdued on Monday, in response to the recent EU-Greece deal. Adding to the downside, the greenback, gauged by the US Dollar Index, has regained ground and is now toying with session highs.
Gold levels to watch
At the moment Gold is losing 0.17% at $1,155.90 and a break below $1,147.30 (low Jul7) would aim for $1,145.40 (low Mar.18) and finally $1,142.20 (2015 low Mar.17). On the upside, the initial resistance lines up at $1,174.88 (high Jul.6) followed by $1,178.70 (high Jun.26) and then $1,188.20 (high Jun.29).