16 Jun 2015
Gold wobbles around $1,180
FXStreet (Edinburgh) - The troy ounce of the precious metal is posting marginal losses on Tuesday, trading in a narrow range in the vicinity of the $1,180 level.
Gold attention to the FOMC gathering
Gold prices lacked clear direction today as market participants are waiting for the FOMC statement on Wednesday, which will be the main catalyst for the USD-denominated assets at least in the near term.
Gold is giving away part of yesterday’s gains in response to expectations of a USD-supportive tone from the Committee on Wednesday, with traders starting to price in the likeliness of a Fed’s lift-off at some point later this year.
Gold relevant levels
Gold is now down 0.39% at $1,181.20 facing the next support at $1,168.70 (low Jun.8) followed by $1,162.50 (low Jun. 5) and then $1,159.40 (low Mar.19). On the other hand, a surpass of $1,191.80 (high Jun.10) would clear the way to $1,205 (high Jun.1) and finally $1,225.76 (high May 19).
Gold attention to the FOMC gathering
Gold prices lacked clear direction today as market participants are waiting for the FOMC statement on Wednesday, which will be the main catalyst for the USD-denominated assets at least in the near term.
Gold is giving away part of yesterday’s gains in response to expectations of a USD-supportive tone from the Committee on Wednesday, with traders starting to price in the likeliness of a Fed’s lift-off at some point later this year.
Gold relevant levels
Gold is now down 0.39% at $1,181.20 facing the next support at $1,168.70 (low Jun.8) followed by $1,162.50 (low Jun. 5) and then $1,159.40 (low Mar.19). On the other hand, a surpass of $1,191.80 (high Jun.10) would clear the way to $1,205 (high Jun.1) and finally $1,225.76 (high May 19).