FXStreet (Edinburgh) – The troy ounce of the precious metal is trading in a tight range at the end of the week, currently hovering over the critical $1,200 mark.
Gold in 2-week tops
Gold prices are posting the second consecutive week so far, with the metal looking to end the session around the $1,200 handle.
Despite the recovery and consequent bid tone around the US dollar, rising concerns on the evolution and eventual outcome of the EU-Greece debt negotiation gave the yellow metal further legs, pushing prices near $1,205 today.
Gold significant levels
As of writing Gold is down 0.07% at $1,201.20 with the initial hurdle at $1,209.00 (high May 25) followed by $1,215.30 (high May 22) and then $1,219.40 (high May 13). On the downside, a drop below $1,173.90 (low Jun.17) would open the door to $1,171.90 (low Jun.15) and finally $1,162.10 (low Jun.5).
(Market News Provided by FXstreet)