Back
14 Apr 2015
Gold in red below $1,200.00
FXStreet (Edinburgh) - The troy ounce of the precious metal managed to bounce off session lows around $1,184 on Tuesday, and is now regaining levels above $1,190.
Gold off lows after US data
Poor results from US Retail Sales, Business Inventories and the NFIB’s index gave Gold some respite and helped it rebound from monthly lows around $1,184 today, although it is still remains in sub-$1,200 levels.
Gold traders will remain vigilant on the upcoming releases in the US economy, in order to gauge the timing of the Fed’s rates lift-off.
Gold key levels
The metal is now retreating 0.46% at $1,193.42 and a break below $1,184.00 (low Apr.14) would target $1,180.50 (low Apr.1) en route to $1,178.20 (low Mar.31). On the flip side, the initial hurdle lines up at $1,236.79 (high Feb.16) ahead of $1,245.91 (high Feb.10) and finally $1,285.80 (high Feb.3).
Gold off lows after US data
Poor results from US Retail Sales, Business Inventories and the NFIB’s index gave Gold some respite and helped it rebound from monthly lows around $1,184 today, although it is still remains in sub-$1,200 levels.
Gold traders will remain vigilant on the upcoming releases in the US economy, in order to gauge the timing of the Fed’s rates lift-off.
Gold key levels
The metal is now retreating 0.46% at $1,193.42 and a break below $1,184.00 (low Apr.14) would target $1,180.50 (low Apr.1) en route to $1,178.20 (low Mar.31). On the flip side, the initial hurdle lines up at $1,236.79 (high Feb.16) ahead of $1,245.91 (high Feb.10) and finally $1,285.80 (high Feb.3).