22 Jul 2015
Gold slides below $1,100
FXStreet (Edinburgh) - Gold prices are extending the negative streak today, trading in levels below $1,100 an ounce on Wednesday.
Gold in 5-year lows
A depressed demand for the safe have metal plus renewed buying interest surrounding the US dollar keep taking a toll on the precious metal today, which is losing ground for the tenth consecutive session and navigating levels around the $1,090 handle, last seen in March 2010.
In addition, prospects of the Federal Reserve hiking rates at some point in Q3/Q4 2015 keep lingering over the markets, collaborating with the downbeat sentiment around the yellow metal.
Gold levels to watch
At the moment Gold is losing 1.10% at $1,091.40 with the next support at $1,073.30 (low Jul.20) ahead of $1,045.20 (monthly low January 2010). On the upside, the initial resistance lines up at $1,131.70 (high Jul.20) followed by $1,144.00 (high Jul.17) and then $1,154.20 (high Jul.15).
Gold in 5-year lows
A depressed demand for the safe have metal plus renewed buying interest surrounding the US dollar keep taking a toll on the precious metal today, which is losing ground for the tenth consecutive session and navigating levels around the $1,090 handle, last seen in March 2010.
In addition, prospects of the Federal Reserve hiking rates at some point in Q3/Q4 2015 keep lingering over the markets, collaborating with the downbeat sentiment around the yellow metal.
Gold levels to watch
At the moment Gold is losing 1.10% at $1,091.40 with the next support at $1,073.30 (low Jul.20) ahead of $1,045.20 (monthly low January 2010). On the upside, the initial resistance lines up at $1,131.70 (high Jul.20) followed by $1,144.00 (high Jul.17) and then $1,154.20 (high Jul.15).