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20 Aug 2015
Gold rallies above $1,150
FXStreet (Edinburgh) - Prices for the yellow metal are rallying on Thursday, pushing the troy ounce to levels around the $1,150 area.
Gold boosted by USD-selling
Gold prices keep the buoyant tone today, boosted by the increasing selling interest hurting the dollar and the weaker tone in global stock markets.
The offered tone around USD has been intensified following the dovish tone from the Committee in Wednesday’s FOMC minutes, leaving the door open for a continuation of the upside momentum in the USD-denominated assets.
While experts keep wondering whether the metal has reached an interim bottom, they have also argued that the next key barrier could emerge around $1,190
Gold levels to watch
Gold is advancing 2.14% at $1,152.10 and a surpass of $1,156.85 (high Jul.15) would aim for $1,164.77 (high Jul.13) and finally $1,174.88 (high Jul.6). On the flip side, the initial support lies at $1,132.40 (low Aug.20) followed by $1,115.80 (low Aug.19) and then $1,109.00 (low Aug.18).
Gold boosted by USD-selling
Gold prices keep the buoyant tone today, boosted by the increasing selling interest hurting the dollar and the weaker tone in global stock markets.
The offered tone around USD has been intensified following the dovish tone from the Committee in Wednesday’s FOMC minutes, leaving the door open for a continuation of the upside momentum in the USD-denominated assets.
While experts keep wondering whether the metal has reached an interim bottom, they have also argued that the next key barrier could emerge around $1,190
Gold levels to watch
Gold is advancing 2.14% at $1,152.10 and a surpass of $1,156.85 (high Jul.15) would aim for $1,164.77 (high Jul.13) and finally $1,174.88 (high Jul.6). On the flip side, the initial support lies at $1,132.40 (low Aug.20) followed by $1,115.80 (low Aug.19) and then $1,109.00 (low Aug.18).