6 Mar 2015
Gold drops to ytd lows around $1,165
FXStreet (Edinburgh) - The troy ounce of the precious metal is intensifying its decline, falling to ytd lows around $1,165 on Friday.
Gold suffering the stronger dollar
The USD rally following the results from the US labour market sent Gold prices to fresh yearly lows today, currently shedding more than 2% to levels last seen in early December. The pair has been losing ground almost uninterruptedly since 2015 peaks just above the critical $1,300 barrier against the backdrop of increasing buying interest surrounding the dollar.
Gold important levels
At the moment the metal is retreating 2.55% at $1,165.50 and a break below $1,142.74 (low Dec.1 2014) would open the door to $1,131.75 (low Nov.7 2014). On the other hand, the initial resistance aligns at $1,223.00 (high Mar.2) followed by $1,236.40 (high Feb.16).
Gold suffering the stronger dollar
The USD rally following the results from the US labour market sent Gold prices to fresh yearly lows today, currently shedding more than 2% to levels last seen in early December. The pair has been losing ground almost uninterruptedly since 2015 peaks just above the critical $1,300 barrier against the backdrop of increasing buying interest surrounding the dollar.
Gold important levels
At the moment the metal is retreating 2.55% at $1,165.50 and a break below $1,142.74 (low Dec.1 2014) would open the door to $1,131.75 (low Nov.7 2014). On the other hand, the initial resistance aligns at $1,223.00 (high Mar.2) followed by $1,236.40 (high Feb.16).