Back
14 May 2015
Gold extends gains above $1,200
FXStreet (Edinburgh) - Gold prices continue to trend higher on Thursday, keeping the upper bound of the daily range around $1,225 so far.
Gold in multi-week tops
The troy ounce of the precious metal is trading in more than 2-month highs just above the $1,220 level after climbing as high as $1,226 in early trade. The weakness around the greenback following the recent poor data from the US docket prompted investors to consider a later than expected Fed’s hike, boosting the demand for the yellow metal.
Gold key levels
The metal is now up 0.41% at $1,223.20 with the next resistance at $1,228 (high May 14) followed by $1,236.79 (high Feb.16) and then $1,245.91. On the flip side, a breach of $1,212 (low May 14) would expose $1,177 (low May 4) and finally $1,168.50 (low Mar.20).
Gold in multi-week tops
The troy ounce of the precious metal is trading in more than 2-month highs just above the $1,220 level after climbing as high as $1,226 in early trade. The weakness around the greenback following the recent poor data from the US docket prompted investors to consider a later than expected Fed’s hike, boosting the demand for the yellow metal.
Gold key levels
The metal is now up 0.41% at $1,223.20 with the next resistance at $1,228 (high May 14) followed by $1,236.79 (high Feb.16) and then $1,245.91. On the flip side, a breach of $1,212 (low May 14) would expose $1,177 (low May 4) and finally $1,168.50 (low Mar.20).