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4 May 2015
Gold firmer, eyes on $1,200
FXStreet (Edinburgh) - The troy ounce of the precious metal is reverting the recent down trend and advancing more than 1% to the boundaries of $1,190.
Gold cautious ahead of Payrolls
The yellow metal is snapping a 3-session negative streak after bottoming out in sub-$1,170 levels last Friday.
The metal gathered traction following the speech by Fed’s Evans, who argued that the Fed should hike rates in early 2016 as data still remains unconvincing.
Gold levels to consider
The metal is now up 0.91% at $1,189.14 with the next hurdle at $1,192 (high May 4) ahead of $1,236.79 (high Feb.16) and then $1,245.91. On the other hand, a breakdown of $1,177 (low May 4) would open the door to $1,168.50 (low Mar.20) and then $1,159.40 (low Mar.19).
Gold cautious ahead of Payrolls
The yellow metal is snapping a 3-session negative streak after bottoming out in sub-$1,170 levels last Friday.
The metal gathered traction following the speech by Fed’s Evans, who argued that the Fed should hike rates in early 2016 as data still remains unconvincing.
Gold levels to consider
The metal is now up 0.91% at $1,189.14 with the next hurdle at $1,192 (high May 4) ahead of $1,236.79 (high Feb.16) and then $1,245.91. On the other hand, a breakdown of $1,177 (low May 4) would open the door to $1,168.50 (low Mar.20) and then $1,159.40 (low Mar.19).