25 May 2015
Gold clings to $1,200
FXStreet (Edinburgh) - The troy ounce of the precious metal is trading in a very tight range on Monday, currently hovering over the $1,207 area.
Gold advances on Greece woes
Concerns over the persistent fragility around Greece and the lack of progress from the debt talks between the Hellenic country and its EU creditors are keeping alive the demand for the safe haven metal today, which keeps the trade above the psychological $1,200 mark so far.
Gold prices are reverting last Friday’s drop in spite of the increasing sentiment around the US dollar, albeit it will remain under pressure in light of the slew of US releases in the upcoming sessions.
Gold key levels
The metal is now up 0.22% at $1,207.60 with the next hurdle at $1,225.76 (high May 19) ahead of $1,228 (high May 14) and then $1,236.79 (high Feb.16). On the downside, a breach of $1,201.60 (low May 21) would aim for $1,177 (low May 4) and finally $1,168.50 (low Mar.20).
Gold advances on Greece woes
Concerns over the persistent fragility around Greece and the lack of progress from the debt talks between the Hellenic country and its EU creditors are keeping alive the demand for the safe haven metal today, which keeps the trade above the psychological $1,200 mark so far.
Gold prices are reverting last Friday’s drop in spite of the increasing sentiment around the US dollar, albeit it will remain under pressure in light of the slew of US releases in the upcoming sessions.
Gold key levels
The metal is now up 0.22% at $1,207.60 with the next hurdle at $1,225.76 (high May 19) ahead of $1,228 (high May 14) and then $1,236.79 (high Feb.16). On the downside, a breach of $1,201.60 (low May 21) would aim for $1,177 (low May 4) and finally $1,168.50 (low Mar.20).