8 Jul 2015
Gold reverts losses, near $1,160
FXStreet (Edinburgh) - The troy ounce of the precious metal has left multi-month lows and is now posting gains in the vicinity of $1,160.
Gold firmer on Greece
Renewed optimism on the deal between Greece and the EU institutions has been weighing on the greenback since the opening bell in Asia today, giving some respite to the USD-denominated assets.
Gold prices have managed to leave 4-month troughs posted yesterday and are now advancing to session tops around $1,165.00 ahead of the FOMC minutes due later.
Gold levels to watch
At the moment Gold is advancing 0.95% at $1,163.50 with the next up barrier at $1,174.88 (high Jul.6) followed by $1,178.70 (high Jun.26) and then $1,188.20 (high Jun.29). On the other hand, a break below $1,147.30 (low Jul7) would aim for $1,145.40 (low Mar.18) and finally $1,142.20 (2015 low Mar.17).
Gold firmer on Greece
Renewed optimism on the deal between Greece and the EU institutions has been weighing on the greenback since the opening bell in Asia today, giving some respite to the USD-denominated assets.
Gold prices have managed to leave 4-month troughs posted yesterday and are now advancing to session tops around $1,165.00 ahead of the FOMC minutes due later.
Gold levels to watch
At the moment Gold is advancing 0.95% at $1,163.50 with the next up barrier at $1,174.88 (high Jul.6) followed by $1,178.70 (high Jun.26) and then $1,188.20 (high Jun.29). On the other hand, a break below $1,147.30 (low Jul7) would aim for $1,145.40 (low Mar.18) and finally $1,142.20 (2015 low Mar.17).