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1 Apr 2015
Gold retakes $1,200 and beyond
FXStreet (Edinburgh) - The troy ounce of the precious metal has recovered the area above the psychological mark at $1,200 on Wednesday.
Gold boosted by USD weakness
The yellow metal found much-needed oxygen in today’s decline in the US dollar, snapping a 3-session negative streak and recovering at the same time levels beyond the $1,200 handle.
Prices of Gold thus started a fresh month on the right footing, looking to revert two consecutive months of losses.
Gold important levels
At the moment the metal is gaining 1.84% at $1,205.39 with the next resistance at $1,223.30 (high Mar.2) followed by $1,234.00 (high Feb.17) and finally $1,236.79 (high Feb.16). On the flip side, a breach of $1,181.00 (low Apr.1) would target $1,178.00 (low Mar.31) en route to $1,168.50 (low Mar.20).
Gold boosted by USD weakness
The yellow metal found much-needed oxygen in today’s decline in the US dollar, snapping a 3-session negative streak and recovering at the same time levels beyond the $1,200 handle.
Prices of Gold thus started a fresh month on the right footing, looking to revert two consecutive months of losses.
Gold important levels
At the moment the metal is gaining 1.84% at $1,205.39 with the next resistance at $1,223.30 (high Mar.2) followed by $1,234.00 (high Feb.17) and finally $1,236.79 (high Feb.16). On the flip side, a breach of $1,181.00 (low Apr.1) would target $1,178.00 (low Mar.31) en route to $1,168.50 (low Mar.20).