12 May 2015
Gold keeps highs above $1,190
FXStreet (Edinburgh) - The troy ounce of Gold is recovering part of the recent ground lost on Tuesday, keeping the trade in the upper bound of the range beyond $1,190.
Gold stronger on USD, bonds
The weaker tone in the US dollar in response to the risk appetite sentiment has combined with a sharp sell off in the global debt markets, sending the metal higher although a break above the critical $1,200 handle still remains elusive.
Gold levels to consider
The metal is now up 0.85% at $1,193.20 with the next resistance at $1,199 (high May 5) ahead of $1,236.79 (high Feb.16) and then $1,245.91. On the flip side, a breach of $1,177 (low May 4) would aim for $1,168.50 (low Mar.20) ahead of $1,159.40 (low Mar.19).
Gold stronger on USD, bonds
The weaker tone in the US dollar in response to the risk appetite sentiment has combined with a sharp sell off in the global debt markets, sending the metal higher although a break above the critical $1,200 handle still remains elusive.
Gold levels to consider
The metal is now up 0.85% at $1,193.20 with the next resistance at $1,199 (high May 5) ahead of $1,236.79 (high Feb.16) and then $1,245.91. On the flip side, a breach of $1,177 (low May 4) would aim for $1,168.50 (low Mar.20) ahead of $1,159.40 (low Mar.19).