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3 Jun 2015
Gold losing the grip near $1,180
FXStreet (Edinburgh) - The troy ounce of the precious metal tested multi-day lows near $1,180 in early trade, although it has managed to pick up some pace afterwards.
Gold weaker on US data
A better tone from US equities kept Gold buyers at bay following the encouraging employment report from the US private sector, adding 201K jobs during last month, slightly above forecasts.
Gold prices could not benefit from the uncertainty around Greece either, with potential news or rumours expected after tonight’s Tsipras-Juncker meeting.
Gold important levels
Gold is now down 0.77% at $1,185.30 and a breakdown of $1,179 (low Jun. 3) would aim for $1,177 (low May 4) and then $1,168.50 (low Mar.20). On the flip side, the immediate hurdle lines up at $1,205 (high Jun.1) ahead of $1,225.76 (high May 19) and finally $1,228 (high May 14).
Gold weaker on US data
A better tone from US equities kept Gold buyers at bay following the encouraging employment report from the US private sector, adding 201K jobs during last month, slightly above forecasts.
Gold prices could not benefit from the uncertainty around Greece either, with potential news or rumours expected after tonight’s Tsipras-Juncker meeting.
Gold important levels
Gold is now down 0.77% at $1,185.30 and a breakdown of $1,179 (low Jun. 3) would aim for $1,177 (low May 4) and then $1,168.50 (low Mar.20). On the flip side, the immediate hurdle lines up at $1,205 (high Jun.1) ahead of $1,225.76 (high May 19) and finally $1,228 (high May 14).