FXStreet (Edinburgh) – The troy ounce of the precious metal is posting decent gains at the end of the week, currently hovering over the $1,095 area.
Gold firmer on USD softness
The yellow metal gathered positive momentum following the increasing offered tone around the US dollar in response to the poor results from the Employment Cost Index during the second quarter, rising below estimates at 0.2%.
Anyway, Gold prices are closing the second consecutive month in red, including a test of the $1,070 area in the previous week, levels last seen in March 2010.
Gold levels to watch
Gold is up 0.55% at $1,094.70 facing the next hurdle at $1,131.70 (high Jul.20) followed by $1,144.00 (high Jul.17) and then $1,154.20 (high Jul.15). On the downside, a break below $1,072.30 (2015 low Jul.24) would aim for $1,045.20 (monthly low January 2010).
(Market News Provided by FXstreet)