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19 Mar 2015
Gold off highs near $1,170
FXStreet (Edinburgh) - After climbing to 2-week highs near $1,180, the troy ounce of the precious metal is now easing some ground to the $1,170 area.
Gold up despite strong dollar
The yellow metal has gathered further traction today after the FOMC might take more time to start hiking rates, according to the Committee’s statement on Wednesday.
The yellow metal clinched its second consecutive gain after dipping to multi-month lows near $1,140 on Tuesday.
Gold important levels
At the moment the metal is up 1.65% at $1,169.40 with the initial hurdle at $1,175.35 (high Mar.9) followed by $1,200.75 (high Mar.6) and then $1,209.43 (high Mar.5). On the flip side, a breakdown of $1,142.20 (low Mar.17) would open the door to $1,141.70 (low Dec.1).
Gold up despite strong dollar
The yellow metal has gathered further traction today after the FOMC might take more time to start hiking rates, according to the Committee’s statement on Wednesday.
The yellow metal clinched its second consecutive gain after dipping to multi-month lows near $1,140 on Tuesday.
Gold important levels
At the moment the metal is up 1.65% at $1,169.40 with the initial hurdle at $1,175.35 (high Mar.9) followed by $1,200.75 (high Mar.6) and then $1,209.43 (high Mar.5). On the flip side, a breakdown of $1,142.20 (low Mar.17) would open the door to $1,141.70 (low Dec.1).