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28 May 2015
Gold reverted losses, near $1,190
FXStreet (Edinburgh) - Gold prices closed the session with gains after a last-minute comeback, hovering over the $1,190 handle.
Gold improved on USD weakness
The precious metal gathered further traction following the drop in the greenback, which nose-dived to session lows near 97.00 the figure measured by the US Dollar Index (DXY).
Mixed results from the US calendar today failed to boost the dollar further, allowing a rebound in the USD-denominated assets and leaving tomorrow’s US Q1GDP Annualized as the next significant event risk (-0.8% exp.).
Gold key levels
Gold is now up 0.24% at $1,189.20 and a break above $1,225.76 (high May 19) would open the door to $1,228 (high May 14) and then $1,236.79. On the flip side, the next support lines up at $1,184 (low May 27) ahead of $1,177 (low May 4) and finally $1,168.50 (low Mar.20).
Gold improved on USD weakness
The precious metal gathered further traction following the drop in the greenback, which nose-dived to session lows near 97.00 the figure measured by the US Dollar Index (DXY).
Mixed results from the US calendar today failed to boost the dollar further, allowing a rebound in the USD-denominated assets and leaving tomorrow’s US Q1GDP Annualized as the next significant event risk (-0.8% exp.).
Gold key levels
Gold is now up 0.24% at $1,189.20 and a break above $1,225.76 (high May 19) would open the door to $1,228 (high May 14) and then $1,236.79. On the flip side, the next support lines up at $1,184 (low May 27) ahead of $1,177 (low May 4) and finally $1,168.50 (low Mar.20).