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27 Mar 2015
Gold clings to $1,200
FXStreet (Edinburgh) - The precious metal is gyrating around the critical $1,200 handle on Friday, while markets are slowly drawing to a close.
Gold in 2-week highs
The troy ounce of the yellow metal is closing with gains for the second consecutive week despite today’s retracement, looking to consolidate the recent break above the $1,200 mark.
Gold traded in a markedly tight range today, between $1,193 and $1,207 amidst alternating sentiment towards the US dollar.
Gold important levels
At the moment the metal is losing 0.41% at $1,199.88 and a breakdown of $1,186.40 (low Mar.25) would expose $1,185.10 (low Mar.24) and then $1,179.10 (low Mar.23). On the other hand, the initial hurdle aligns at $1,223.30 (high Mar.2) followed by $1,234.00 (high Feb.17) and finally $1,236.79 (high Feb.16).
Gold in 2-week highs
The troy ounce of the yellow metal is closing with gains for the second consecutive week despite today’s retracement, looking to consolidate the recent break above the $1,200 mark.
Gold traded in a markedly tight range today, between $1,193 and $1,207 amidst alternating sentiment towards the US dollar.
Gold important levels
At the moment the metal is losing 0.41% at $1,199.88 and a breakdown of $1,186.40 (low Mar.25) would expose $1,185.10 (low Mar.24) and then $1,179.10 (low Mar.23). On the other hand, the initial hurdle aligns at $1,223.30 (high Mar.2) followed by $1,234.00 (high Feb.17) and finally $1,236.79 (high Feb.16).