FXStreet (Edinburgh) – The troy ounce of the precious metal kept the trade in a tight range on Wednesday, marginally retreating to levels sub-$1,190.
Gold in 2-week lows
The stronger tone around the US dollar combined with last-minute hopes of a deal between Greece and its EU peers has plotted against occasional bullish attempts in the yellow metal, which remains capped by the $1,190 level today.
Gold prices are clinching a 4-session negative streak so far, back to levels last seen around mid-May. Furthermore, prices are expected to remain under pressure in light of the significant data releases in the US economy tomorrow and Friday
Gold key levels
Gold is now losing 0.05% at $1,187.20 with the immediate support at $1,184 (low May 27) ahead of $1,177 (low May 4) and finally $1,168.50 (low Mar.20). On the other hand, a break above $1,225.76 (high May 19) would open the door to $1,228 (high May 14) and then $1,236.79 (high Feb.16).
(Market News Provided by FXstreet)