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2 Jun 2015
Gold firmer, albeit below $1,200
FXStreet (Edinburgh) - The precious metal is trading in a tight range on Tuesday, posting marginal gains although it remains in sub-$1,200 levels.
Gold improved on Greece jitters
Concerns regarding the uncertainty around Greece keep bolstering prices during the first half of the week, in spite of today’s rising optimism that a EU-Greece deal could be closer.
The other factor sustaining the Gold’s upside momentum would be the strong re-emergence of the selling interest around the greenback, dragging the US Dollar Index to multi-day troughs.
Gold key levels
Gold is now up 0.46% at $1,194.20 with the initial hurdle at $1,205 (high Jun.1) ahead of $1,225.76 (high May 19) and finally $1,228 (high May 14). On the other hand, a breakdown of $1,184 (low May 27) would aim for $1,177 (low May 4) and then $1,168.50 (low Mar.20).
Gold improved on Greece jitters
Concerns regarding the uncertainty around Greece keep bolstering prices during the first half of the week, in spite of today’s rising optimism that a EU-Greece deal could be closer.
The other factor sustaining the Gold’s upside momentum would be the strong re-emergence of the selling interest around the greenback, dragging the US Dollar Index to multi-day troughs.
Gold key levels
Gold is now up 0.46% at $1,194.20 with the initial hurdle at $1,205 (high Jun.1) ahead of $1,225.76 (high May 19) and finally $1,228 (high May 14). On the other hand, a breakdown of $1,184 (low May 27) would aim for $1,177 (low May 4) and then $1,168.50 (low Mar.20).