12 Feb 2015
Gold unchanged near $1,220/Oz
FXStreet (Edinburgh) - The precious metal is now alternating gains and losses despite the generalized softer tone surrounding the US dollar.
Gold ignores US data
The yellow metal remained practically indifferent after US retail sales and Initial Claims missed estimates today, increasing the offered tone around the greenback as a consequence. The metal is trading in multi-week lows around $1,220/Oz, still extending the decline post-US Payrolls.
Gold levels to consider
Gold is now up 0.06% at $1,220.20 with the next hurdle at $1,232.28 (55-d MA) and then $1,267.21 (21-d MA). On the other hand a breakdown of $1,205.50 (low Jan.8) would open the door to $1,177.80 (low Jan.5).
Gold ignores US data
The yellow metal remained practically indifferent after US retail sales and Initial Claims missed estimates today, increasing the offered tone around the greenback as a consequence. The metal is trading in multi-week lows around $1,220/Oz, still extending the decline post-US Payrolls.
Gold levels to consider
Gold is now up 0.06% at $1,220.20 with the next hurdle at $1,232.28 (55-d MA) and then $1,267.21 (21-d MA). On the other hand a breakdown of $1,205.50 (low Jan.8) would open the door to $1,177.80 (low Jan.5).