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31 Mar 2015
Gold in red around $1,180
FXStreet (Edinburgh) - The precious metal is extending the recent break below the critical $1,200 handle, currently testing the vicinity of $1,180.
Gold softer on USD strength
The buying interest around the US dollar kept the demand for the yellow metal subdued today, pushing the Gold to close the second consecutive month with losses.
The greenback, in terms of the US Dollar Index (DXY), is prolonging the upside sparked last week and keeps recovering from the sharp drop post-FOMC, all in light of the key Non-farm Payrolls due on Friday.
Gold important levels
At the moment the metal is losing 0.29% at $1,182.68 and a breakdown of $1,178.00 (low Mar.31) would expose $1,168.50 (low Mar.20). On the other hand, the initial hurdle aligns at $1,223.30 (high Mar.2) followed by $1,234.00 (high Feb.17) and finally $1,236.79 (high Feb.16).
Gold softer on USD strength
The buying interest around the US dollar kept the demand for the yellow metal subdued today, pushing the Gold to close the second consecutive month with losses.
The greenback, in terms of the US Dollar Index (DXY), is prolonging the upside sparked last week and keeps recovering from the sharp drop post-FOMC, all in light of the key Non-farm Payrolls due on Friday.
Gold important levels
At the moment the metal is losing 0.29% at $1,182.68 and a breakdown of $1,178.00 (low Mar.31) would expose $1,168.50 (low Mar.20). On the other hand, the initial hurdle aligns at $1,223.30 (high Mar.2) followed by $1,234.00 (high Feb.17) and finally $1,236.79 (high Feb.16).