24 Feb 2015
Gold dancing around $1,200
FXStreet (Edinburgh) - The precious metal remains in the red territory, albeit it has managed to bounce off session lows around $1,190.
Gold a tad better on Yellen
The ounce troy of Gold is resuming the downside, only interrupted yesterday, while it keeps struggling to retake the critical $1,200 barrier. Gold tested intraday troughs following Yellen’s initial appreciations, although recovered some terrain after acknowledging that the first rate hike will still have to wait a bit longer.
Gold key levels
At the moment the metal is losing 0.15% at $1,199.20. A drop below $1,190.50 (low Feb.24) would expose $1,167.30 (low Jan.2) and then $1,141.70 (low Dec.2). On the upside, the next hurdle lines up at $1,209.90 (high Feb.23) followed by $1,222.90 (high Feb.19) and finally $1,236.40 (high Feb.16).
Gold a tad better on Yellen
The ounce troy of Gold is resuming the downside, only interrupted yesterday, while it keeps struggling to retake the critical $1,200 barrier. Gold tested intraday troughs following Yellen’s initial appreciations, although recovered some terrain after acknowledging that the first rate hike will still have to wait a bit longer.
Gold key levels
At the moment the metal is losing 0.15% at $1,199.20. A drop below $1,190.50 (low Feb.24) would expose $1,167.30 (low Jan.2) and then $1,141.70 (low Dec.2). On the upside, the next hurdle lines up at $1,209.90 (high Feb.23) followed by $1,222.90 (high Feb.19) and finally $1,236.40 (high Feb.16).