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15 Apr 2015
Gold back above $1,200
FXStreet (Edinburgh) - The troy ounce of the yellow metal has recovered the critical $1,200 handle on Wednesday.
Gold firmer on poor US data
The precious metal is snapping a 2-session negative streak today and reclaiming the $1,200 mark after Industrial Production and Capacity Utilization in the US economy missed expectations during the last month.
Adding to the daily upside, the renewed softness around the US dollar helped Gold to leave the area of session lows just below $1,190 and climb above the $1,200 mark.
Gold key levels
The metal is now gaining 0.93% at $1,203.22 with the next hurdle at $1,236.79 (high Feb.16) ahead of $1,245.91 (high Feb.10) and finally $1,285.80 (high Feb.3). On the flip side, a breach of $1,184.00 (low Apr.14) would target $1,180.50 (low Apr.1) en route to $1,178.20 (low Mar.31).
Gold firmer on poor US data
The precious metal is snapping a 2-session negative streak today and reclaiming the $1,200 mark after Industrial Production and Capacity Utilization in the US economy missed expectations during the last month.
Adding to the daily upside, the renewed softness around the US dollar helped Gold to leave the area of session lows just below $1,190 and climb above the $1,200 mark.
Gold key levels
The metal is now gaining 0.93% at $1,203.22 with the next hurdle at $1,236.79 (high Feb.16) ahead of $1,245.91 (high Feb.10) and finally $1,285.80 (high Feb.3). On the flip side, a breach of $1,184.00 (low Apr.14) would target $1,180.50 (low Apr.1) en route to $1,178.20 (low Mar.31).