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11 Mar 2015
Gold in 3-month lows near $1,150
FXStreet (Edinburgh) - The troy ounce of the precious metal is retreating for the second consecutive week so far, trading in the area of $1,150.
Gold hurt by USD strength
The persistent buying interest around the US dollar has relegated the yellow metal to trade in levels last seen in November in the $1,155/50 band, leaving the door open for a deeper retracement in case the FOMC surprise markets with a hawkish tone next week.
Gold important levels
At the moment Gold is retreating 0.70% at $1,152.00 with the immediate support at $1,141.70 (low Dec.1) ahead of $1,130.40 (low Nov.7) and finally $1.123.78 (low Apr.19 2010). On the upside, a break above $1,174.40 (high Mar.9) would open the door to $1,200.00 (high Mar.6) and finally $1,223.00 (high Mar.2).
Gold hurt by USD strength
The persistent buying interest around the US dollar has relegated the yellow metal to trade in levels last seen in November in the $1,155/50 band, leaving the door open for a deeper retracement in case the FOMC surprise markets with a hawkish tone next week.
Gold important levels
At the moment Gold is retreating 0.70% at $1,152.00 with the immediate support at $1,141.70 (low Dec.1) ahead of $1,130.40 (low Nov.7) and finally $1.123.78 (low Apr.19 2010). On the upside, a break above $1,174.40 (high Mar.9) would open the door to $1,200.00 (high Mar.6) and finally $1,223.00 (high Mar.2).